The Gunners have been linked to major moves over the last few weeks having secured David Raya's permanent move from Brentford following his loan spell last season. They've so far done little in the way of bolstering their squad in order to take the fight back to reigning Premier League champions Manchester City since their close title race ended in heartbreak for Arsenal back in May.
Bologna defender Riccardo Calafiori is expected to be the next bit of business that the north London outfit complete, having agreed personal terms with the 22-year-old last week, but it's apparent that the Gunners are yet to match the £42million asking price that the Serie A side have set for his services.
It's believed that Arteta is keen to have Calafiori on their pre-season tour of the US which kicks-off against Bournemouth on Thursday, July 25 at 3:30am BST. That does not give the club's negotiating party much time to get the deal over the line before the squad flies out.
Elsewhere, the latest star to be linked with a move to the Emirates Stadium this summer is RB Leipzig attacker Dani Olmo, who has been tearing up the 2024 European Championships in Germany over the last few weeks. The star is currently tied with four other players in the Golden Boot race with three goals, but his two assists means he currently leads the way.
The Spain international has been previously linked with a €40million (£33million) move to Arsenal when he was a Dinamo Zagreb player back in 2019 but the club then opted to go after Real Madrid midfielder Dani Ceballos in an ill-fated decision that ended up backfiring on them. Now they have another chance to go after the 26-year-old, who has a €60million (£50.7million) release clause in his contract which expires next Monday.
To be able to afford both, the Gunners will have to do the one thing they're notoriously bad at in the transfer market - bringing in some big some big fees for current players. It has already been six full summer windows since the Gunners last sold a player for over £30million, and it's a mistake they can't afford to make while trying to balance the books around fears of breaking the Premier League's Profit and Sustainability Rules (PSRs).
That being said, there has already been talk of exits for a handful of stars which could generate serious funds for their war chest this summer including striker Eddie Nketiah who has been linked with Ligue 1 side Marseille this week. His sale would go down into the accounts as 'pure profit', allowing them to put all the funds generated from his sale to bringing in another asset in full without loss, the same tactic the Gunners used when selling fellow Hale End graduate Folarin Balogun last summer to help fund moves for Declan Rice and Kai Havertz.
It's believed Nketiah could command a similar price as Balogun, if not more, with a sale around the £30million mark more than possible. He's one of six stars who joined Arteta at a pre-season training camp in Marbella, where one last impression could be made on the coach.
Midfielder Emile Smith Rowe is in a similar boat to Nketiah, with the 23-year-old also set up for a departure this summer amid £30million links to Fulham. Injuries have plagued the youngster who once broke through the Gunners ranks at the same time as Bukayo Saka, but was relegated to just three Premier League starts last season.
Goalkeeper Aaron Ramsdale's time at the Emirates Stadium took a dramatic shift last season when Arsenal announced the surprise loan move for Raya, something which pushed Ramsdale down to the bench after three consecutive seasons of being a No.1 choice in the Premier League for both Sheffield United and the Gunners.
His £50million asking price, according to TEAMtalk, could actually hinder the star's ability to leave the club, but if matched would net a cool £26million of profit from their deal with the Blades back in 2021 which saw him sign for £24million. With Calafiori set to hold down the fort at left-back, it's becoming increasingly likely that Jakub Kiwior is another name on the chopping block for this summer's business proposals - especially given Jurrien Timber's return to availability.
The Polish star has been heavily linked with a move back to the Serie A, less than 18 months after leaving Spezia. Both Juventus and Inter Milan have been said to hold interest in the 24-year-old, and it's believed the Gunners will listen to offer around £20million for the defender who made 30 appearances in all competitions last season.
Finally, Reiss Nelson's limited involvement saw him ask to leave the club earlier in the transfer window and he could now get his wish as he assesses his options going forward. Having only signed a new four-year deal last July, Nelson could leave for as little as £20million after he was convinced by Arteta to commit his future to the club.
If those players are sold, the money generated could mean Arsenal are able to easily complete deals for both Olmo and Calafiori, strengthening their squad massively in the hopes they can go one better than the last two seasons domestically and lift their first Premier League trophy in over 20 years.
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