Arsenal went from strength to strength under Mikel Arteta this season, finishing second in the Premier League. The Spanish manager will now look for reinforcements to help mount another title challenge.
Meanwhile, the Gunners are interested in Manchester City midfielder Ilkay Gundogan. Elsewhere, the north London side have been advised not to target Leicester City midfielder James Maddison this summer.
On that note, here's a look at the key Arsenal transfer stories as on June 7, 2023:
Arsenal eyeing Ilkay Gundogan
Arsenal want to sign Ilkay Gundogan on a Bosman move this summer, according to SPORT.
The German midfielder is in the final month of his contract with Manchester City but is yet to sign an extension. The 32-year-old is likely to leave the Etihad as a free agent this summer, and the Gunners are plotting to bring him to the Emirates.
Gundogan has enjoyed an eventful seven-year stay with the Cityzens but desires a fresh challenge. The Gunners want him as they seek to add quality and experience to their squad.
Arsenal are willing to offer Gundogan a two-year contract to convince him to move to London. However, they face competition from Barcelona, as well as suitors from Saudi Arabia.
Gunners advised against James Maddison move
Journalist Paul Brown has advised Arsenal not to move for James Maddison this summer.
The Englishman is likely to leave Leicester City this year following their relegation from the Premier League. The Gunners have their sights on the 26-year-old, who could be available in a cut-price deal.
Maddison has been in good form for the Foxes this season, scoring ten goals and setting up nine in 32 appearances across competitions. He could be a good fit in Arteta's tactics at the Emirates while also adding more creativity to the squad.
However, speaking to Give Me Sport, Brown pointed out that the north London side don't need Maddison, as they already have Martin Odegaard and Emile Smith Rowe.
"I do feel that while Maddison is a brilliant player, I don't really see a role for him at Arsenal. I can't see how he would coexist easily with Ødegaard in the team.
"And to be quite honest, (Emile) Smith Rowe really is also a natural 10, so you'd end up with three players with very similar characteristics there, who I just don't think can play together," said Brown.
He continued:
"So it wouldn't seem like an easy fit for Maddison at Arsenal. And I do think there are going to be other clubs who come in for him who might be a better fit for him."
Maddison will not be short of options this summer, with Manchester United among the clubs eyeing him with interest.
Arsenal backed to step up Declan Rice pursuit
Transfer insider Ryan Taylor expects Arsenal to launch a move for Declan Rice after the UEFA Europa Conference League final.
West Ham United are preparing to face Fiorentina on Wednesday at the Eden Arena, and the Englishman is expected to be in the thick of things. Rice's contract with the Hammers runs out in just over a year, but he hasn't signed a new deal yet.
The Gunners are looking for midfield reinforcements this summer and have set their sights on the 24-year-old. Speaking to Give Me Sport, Taylor said that Rice is Arteta's priority this summer.
"I think we can expect them to launch a bid for Rice after the Europa Conference League final. I think that's been pretty clear now for about a week or so.
"Rice is Arteta's top target, and that is probably why we're seeing the Leverkusen move for Xhaka being held off at the moment," said Taylor.
Manchester United are also keeping a close eye on the Englishman, according to reports.