Here is your Arsenal morning digest for Monday, June 1.
Arsenal handed transfer warning
Arsenal are keen to sign young Celtic striker Odsonne Edouard - but the recent hiatus may put paid to that.
The Scottish champions had initially hoped to get around £25million for him - the same amount they received from the Gunners for Kieran Tierney last year.
But economic circumstances have changed, meaning such a price is beyond Arsenal’s reach now yet there are unlikely but not impossible circumstances that could yet see a move for Edouard materialise.
It would however require the sale of at least one and possibly both of Pierre-Emerick Aubameyang and Alexandre Lacazette for Arsenal to both have the funds and feel compelled to enter the market for a replacement.
They see the 22-year-old potentially as a key element of their squad for the future, but Celtic manager Neil Lennon, however, does not want to lose him.
"We have him on a really good contract, and we are in a strong position to rebuff any interest in him,” he said. “We don’t want to sell him."
First signing of summer ‘confirmed’
Mikel Arteta appears to have concluded his first signing of the summer transfer window - winger George Lewis.
The 19-year-old Norwegian had been on trial with the club in March - and now he has changed his social media profile image to one of him in full Arsenal kit, what appears to be next season’s home shirt.
That indicates that a deal has been struck to take him to the Emirates permanently – and he is expected to join the under-23 squad initially.
Arsenal losing race for Coutinho - report
Arsenal are being edged out in the race to sign Philippe Coutinho, according to reports.
The Barcelona playmaker has spent the last season on loan at Bayern Munich - and is likely to be available on loan again this summer if nobody comes in with a permanent offer.
And Chelsea are currently leading the charge for his signature.
The Brazilian's agent Kia Joorabchian is looking to secure a move back to the Premier League - but the Gunners were reportedly not interested in signing him on loan for a sizeable fee of £10million.
Barca paid Liverpool £105m for the 27-year-old at the start of 2018, but know they will not recoup that amount if they manage to offload him in the near future.