The transfer window is well and truly open and Arsenal have already made a transfer, but the Gunners are planning several more moves to strengthen their squad.
Unai Emery has a challenging rebuild ahead, with the departures of Danny Welbeck, Petr Cech, Aaron Ramsey and Stephan Lichtsteiner leaving the squad in need of reinforcements.
Arsenal completed the deal to bring Gabriel Martinelli this week, and are thought to be looking for a central defender, a midfielder and a winger this summer, so who will arrive at the Emirates in the next month? Here's a look at the latest Arsenal transfer rumours:
Malcom
Arsenal have suffered a setback in the pursuit of Barcelona winger Malcom this summer with Paris Saint-Germain also interested in bringing the Brazilian back to Ligue 1.
The Gunners have already offered to take the young prospect on loan for the forthcoming season with the option to buy the wide-man at the end of the campaign.
However, it is understood that Barcelona would prefer to sell the 22-year-old just one year after signing him for €41m (£36.77m) from Bordeaux.
Although the Catalan giants could also be tempted to use Malcom as a sweetener in a deal to bring Neymar back to La Liga from PSG.
Ryan Fraser
According to the Mirror, Arsenal are ready to turn their attention back to Bournemouth winger Ryan Fraser as their hopes of landing Wilfred Zaha appear to have hit a dead end.
Crystal Palace have already rejected an inquiry of £40million from the Gunners for Zaha, and the south Londoners have made it clear they will not contemplate selling the Ivory Coast international for anything less than double that initial offer.
That means Unai Emery, who has just £45m to spend unless he raises more cash by off-loading unwanted players, is once again focusing his attentions on Fraser.
The Scottish international, 25, had a brilliant last season at the Vitality Stadium, creating 17 goals and rattling in another seven himself.
William Saliba
According to Telefoot, Arsenal are close to completing a deal for Saint Etienne defender Wiliam Saliba.
A 30 million euro fee (£26.9m) is reportedly agreed with the finer details to be ironed out.
The young French centre back will return to the the Ligue 1 on loan for next season.
Wilfried Zaha
Links with Crystal Palace ace Wilfried Zaha continue to rumble on.
Zaha told reporters after Ivory Coast's win over Namibia in the African Cup of Nations earlier this week that he didn't know what the future held for him.
And those quotes resurfaced as reports that he had refused to rule out a move to Arsenal.
And it seems Zaha is now fed up of those rumours, as he addressed them by saying "whatever happened to speaking facts".
