The North London outfit are searching for additional firepower to maintain their title contention, particularly after Mikel Arteta confirmed his intention to bolster his attack, following injuries to key players Bukayo Saka and Gabriel Jesus.
With his team six points behind Liverpool - who also have a game in hand - after the Gunners' narrow victory over Wolves, Arteta knows he needs extra hands on deck within his worn-out arsenal to keep the momentum going.
As deadline day draws near, here's a look at the latest whispers over transfers buzzing around Arsenal.
It seems Arsenal might soon welcome a fresh-legged prodigy with discussions underway to nab Norwegian youngster Sverre Nypan, reports the Mirror.
This 18-year-old talent caught the Gunners' eyes earlier this month, as scouts kept tabs on the goalscoring midfielder shining in Rosenborg's youth ranks.
Nypan's flair hasn't just sparked excitement at Arsenal; it has also pricked up ears at Manchester United and Manchester City. Nonetheless, Arsenal appear to be in pole position following "advancing" talks, reported by the Athletic.
Still, the tug-of-war for his services drags on as a concrete decision on his professional path remains elusive, keeping supporters guessing until the last minute.
However, Arsenal fans might feel a sting hearing last year's comments from the hot prospect, who had eyes for their rivals. Nypan said: "It would obviously be a dream come true to play for Manchester United. I'm aware United has shown some interest. But I'm quite adamant that I don't want to open that door yet. I want to focus on Rosenborg and not think too far ahead."
It seems Red Bull Leipzig's Benjamin Sesko "has already picked Arsenal" over other top clubs.
Despite Red Bull Leipzig's hesitance to let their star forward go mid-season as they gun for Champions League qualification, talkSport suggests Sesko fancies the Gunners, making his preference clear amid swirling interest from Manchester United and Chelsea last year.
Arsenal's pursuit of immediate team-strengthening could hit pay dirt in summer rather than January, with Leipzig seemingly unshakeable without a "crazy offer" for the 13-goal tallying hotshot tipped as one of the brightest young talents in Europe.
Meanwhile, concerns are mounting at Arsenal over potentially losing another bright spark, Ayden Heaven, with memories still fresh of Chido Obi-Martins shift to Manchester United the previous year.
Arsenal could be set to lose another of their promising young talents, with 18 year old centre-back Heaven reportedly being eyed up by United. The youngster was spotted at Old Trafford during United's 2-1 victory over Rangers on Thursday.
Heaven's contract with the Gunners is due to expire this summer, which would allow the Red Devils to snap him up on a free transfer. It's reported that contact has already been made with the player.
The versatile defender, who can also operate as a left-back or in central midfield, began his youth career with West Ham in 2015 before making the switch to Arsenal four years later.
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