Arsenal Transfer News Roundup: Gunners receive blow in pursuit of Bayern Munich forward; club identify Manchester City defender as Lisandro Martinez alternative, and more - July 15, 2022

Arsenal finished fifth in the Premier League in the recently concluded campaign. Manager Mikel Arteta is working to improve his squad over the summer to help break into the top four next season.

Meanwhile, the Gunners have received a blow in their pursuit of a Bayern Munich forward. Elsewhere, the club have identified a Manchester City defender as an alternative to Lisandro Martinez.

On that note, here's a look at the key Arsenal transfer stories as on July 15, 2022:

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Arsenal receive blow in Serge Gnabry pursuit

Serge Gnabry is likely to extend his stay at the Allianz Arena.

Arsenal have received a setback in their quest to sign Serge Gnabry. According to Sky Germany via The Mirror, the German forward has decided to extend his stay with Bayern Munich. The Gunners are eager to take the 27-year-old back to the Emirates this summer.

Gnabry has been a revelation since joining the Bavarians in 2018 and has amassed 63 goals in 171 games so far. His current deal is set to expire in 2023, but he's yet to commit himself to the Bundesliga giants. The German's contract situation has alerted clubs around Europe, including the Gunners.

Arteta is expected to revamp his attack this summer. The Spaniard has already roped in Gabriel Jesus but desires an upgrade on Nicolas Pepe. Gnabry fits the bill and has the ability to take the Arsenal attack to a new level.

However, it now appears the German will not leave Bayern Munich this summer. The 27-year-old will sign a new deal with the Bavarians soon, ending speculation about his future. So the Gunners will have to turn their attention to alternate targets.

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Gunners identify Oleksandr Zinchenko as Lisandro Martinez alternative

Oleksandr Zinchenko could leave the Emirates this summer.

The Gunners have turned their attention to Oleksandr Zinchenko as an alternative to Lisandro Martinez, according to The Athletic.

Arteta is keen to be reunited with the Ukrainian, having worked with him at the Emirates before. The Spaniard had previously identified Lisandro Martinez as a target, but Manchester United have taken the lead in the race for the Ajax defender.

Zinchenko has emerged as a suitable alternative, with his ability to play in midfield as well as a full-back an added asset. Manchester City are willing to let him leave should they receive a proper bid.

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Kevin Campbell backs Arsenal to sign Kyle Walker-Peters

Kyle Walker-Peters has admirers at the Emirates.

Former Gunners striker Kevin Campbell has backed the Gunners to sign Kyle Walker-Peters. The Southampton full-back could be available for £30 million this summer and is on Arteta's wishlist.

Speaking to Football Insider, Campbell said that Walker-Peters has come into his own since joining the Saints.

“I’ve watched him play, and he’s done really well at Southampton. He got a few opportunities at Spurs, but we didn’t really see the best of him. But now he’s playing week-in, week-out – he looks like a really good addition to that Southampton squad," said Campbell.

He added:

“He can play left or right; he’s a good attacker and a good passer – he’s a real threat going forward. £30m is cheap money for an England international. He’d have to put his Spurs ties aside to come and join Arsenal – but he’s a very good player.”