Arsenal's hopes of landing top summer target Nicolo Barella may hinge on whether they manage to regain Champions League status over the next two months.
Manager Unai Emery wants to sign a playmaker for a Gunners midfield that could otherwise be short on guile once Aaron Ramsey has made his Bosman free transfer to Italian champions Juventus .
Barella is seen as the ideal candidate, and Arsenal scouts were on hand to see the 22-year-old open his goals account for Italy last weekend in a Euros qualifier against Finland.
However, his £43million valuation is a lot to ask of a club limited to loan deals in the January window because of their lack of available cash.
Arsenal plot Henrikh Mkhitaryan summer transfer to help fund four new signings
Indeed, Arsenal's top brass are unwilling to sanction splashing out that sort of fee on one player this summer unless they have made it back into the money-spinning world of European football’s top club competition, either with a top-four finish or as Europa League winners.
They hope to boost their finances by offloading perceived dead wood such as Mohamed Elneny and Calum Chambers, while Shkodran Mustafi could also be sold.
The wage bill will also come down with Ramsey leaving, Petr Cech retiring and Danny Welbeck, Stephan Lichtsteiner, Carl Jenkinson and Nacho Monreal all out of contract.
However, another season out of the Champions League would be a big financial blow and have a major impact on Emery’s summer transfer budget.
Arsenal signed Barcelona midfielder Denis Suarez on loan in January but he has failed to impress, and the club are unlikely to take up their option to make it permanent.
The Gunners are paying the 25-year-old’s wages in full but he has yet to even start a match for them, making only six substitute appearances.
Denis Suarez sends message after first Arsenal start as fans ask for one thing
Their London rivals Chelsea wanted Barella to replace Cesc Fabregas in January when he left for Monaco, but the player decided to stay in Italy.
Cagliari's Serie A rivals AC Milan and Napoli are also interested in him.
Arsenal are fourth in the Premier League with eight games left as the season resumes this weekend after the international break, two points above Manchester United and three ahead of Chelsea, with a Europa League quarter-final against Napoli to come.
