The final week of the January transfer window is shaping up to be a busy one for Arsenal and manager Mikel Arteta.
After completing their second signing of the window on Friday, landing goalkeeper Mat Ryan on loan from Brighton & Hove Albion for the rest of the season, the Gunners are looking to add more talent to their ranks before the February 1 deadline.
It is understood that the north London club, who crashed out of the FA Cup on Saturday, going down 1-0 to Premier League rivals Southampton at St Mary's, are close to signing Real Madrid midfielder Martin Odegaard on loan for the remainder of the campaign.
But even once Arsenal have formally got a deal over the line for the Norway international he is not expected to be their final arrival of the window.
The club continues to be linked with a move for Norwich City starlet Emiliano Buendia as well as being keen to strengthen their left-back options.
With that in mind, here is a round-up of all the very latest Arsenal transfer rumours.
Gunners to miss out on Stoke ace
Arsenal's hopes of signing highly-rated Stoke City defender Nathan Collins are under severe threat from fellow Premier League outfit Burnley, it has emerged.
Collins has been a key fixture in Michael O'Neill's plans at the bet365 Stadium this season, playing at both right-back and centre-back.
His performances have led to no shortage of interest in his services from an array of Premier League clubs, including both Arsenal and Manchester United.
However, Burnley have now stormed to the front of the queue in the race to seal a £10million move for the 19-year-old, according to The Sun.
Arsenal make Bertrand move
The Gunners have made contact with the representatives of Southampton left-back Ryan Bertrand.
That is according to a report by Goal, as cited by The Boot Room.
The left-back is out-of-contract at the end of the season and he is yet to commit his future to the Saints, meaning he will become a free-agent in the summer if he doesn't leave the club this month.
Arsenal have not yet made contact with Southampton over a move but they have held talks with his representatives.
Buendia talks to begin
Arsenal are ready to open talks with the representatives of Norwich ace Buendia as they aim to seal a deal for his signature before next week's deadline.
The winger, who has been outstanding for the Canaries in the Championship so far this season, has been on the Gunners' radar for a while, although they are yet to submit a formal offer for his services.
However, according to a report by Mundo Deportivo, the Gunners are now ready to open talks with his agent about the prospect of signing him.
Even though Odegaard is poised to join the Gunners, Buendia remains high on the club's radar.
