Arsenal finished second in the Premier League, losing ground in the title race in the final weeks of the campaign. Manager Mikel Arteta is working to upgrade his squad to have another go at the title in the upcoming season.
Meanwhile, the Gunners are planning a move for Paris Saint-Germain striker Kylian Mbappe in 2024. Elsewhere, midfielder Thomas Partey wants to leave the Emirates this summer.
On that note, here's a look at the key Arsenal transfer stories as on July 2, 2023:
Arsenal eyeing 2024 Kylian Mbappe move
Arsenal are planning to move for Kylian Mbappe next year if he doesn't leave Paris Saint-Germain this summer, according to Football Transfers.
The French forward's contract with the Parisians runs till the end of next season, but he has no plans to sign a new deal. The Ligue 1 champions could look to offload him this year amid interest from Real Madrid.
The La Liga giants are long-term admirers of the 24-year-old and are also plotting to sign him on a Bosman move next year. However, Los Blancos could have the Gunners for company in the race for Mbappe if the player doesn't join the Spanish side this summer. The north London side are a fan of the Frenchman and are plotting a ambitious move for him next year.
Arteta has taken his team from strength to strength since taking charge. Arsenal have completed the signing of Kai Havertz this summer and are a step away from landing Declan Rice.
The Gunners have backed Arteta's judgement in the market and are contemplating sending a proposal to Mbappe. However, as of now, Real Madrid remain the clear favourites for the 24-year-old, who has his heart set on a move to the Santiago Bernabeu.
Thomas Partey wants to leave
Thomas Partey has informed Arsenal that he wants to leave this summer, according to Football Transfers.
The Ghanaian enjoyed a decent season under Arteta but is wary of dropping down the pecking order following the imminent arrival of Rice. The 30-year-old wants to continue playing regularly, so he has asked the club to help him find a new home.
Arteta is fond of the player but has reportedly accepted his request. However, the Gunners will only let Partey leave for a proper offer this summer. There's interest in his signature from Saudi Arabia, while Juventus are also monitoring him closely.
However, the north London side are yet to receive a formal offer for the Ghanaian. Arsenal have identified Romeo Lavia as a replacement for the 30-year-old and have accelerated their interest in the Belgian midfielder.
However, the Gunners will have to ward off competition from Chelsea to secure Lavia's signature.
Gunners retain Joao Cancelo interest
The Gunners remain in the hunt for Joao Cancelo, according to journalist Dean Jones.
The Portuguese full-back is surplus to requirements at Manchester City, who are ready to offload him this summer. The 29-year-old spent the second half of last season with Bayern Munich on loan, but the Bavarians are not interested in a permanent move.
The Gunners are eyeing reinforcements in the right-back position this summer and have turned to Cancelo. Jones told Give Me Sport that the north London side could return for the player after completing deals for Rice and Jurrien Timber.
“Arsenal do still have an eye on Cancelo, but that one has to wait because they have enough on their plate to deal with at the moment. This is a big week for Arsenal, with deals for Rice and Jurrien Timber to get over the line,” wrote Romano.
He continued:
"I have noticed a swell in the number of Arsenal fans criticising Edu during negotiations. I’ve been on transfer shows where all the comments have been ‘Edu Out’ because they are getting frustrated about the fact they struggle to get big transfers tied up, but now they might be happier."
Cancelo’s ability to play on either flanks could make him an asset under Mikel Arteta if the move transpires.