Mikel Arteta aims for midfield revamp with 2 signings as Arsenal prepare to complete £174 million double swoop: Reports 

Arsenal are reportedly considering a high-cost double swoop for West Ham United captain Declan Rice and Brighton & Hove Albion star Moises Caicedo ahead of the upcoming summer transfer window.

Rice, 24, has established himself as one of the most notable defensive midfielders in the world over the past four seasons. He has been on the Gunners' radar since the turn of the year as he is in the final 14 months of his contract.

Caicedo, on the other hand, has also been linked with the Emirates Stadium outfit for six months due to his tireless outings for the Seagulls. The 21-year-old was subject to multiple rejected bids earlier this January.

According to The Times, Arsenal boss Mikel Arteta has clarified to his club's board that both Rice and Caicedo are priorities ahead of the upcoming 2023-24 season. The north London side are aiming to inject new blood into their midfield to prepare for UEFA Champions League action, planning to dish out £174 million for the pair.

Arsenal are also hoping to raise funds by offloading players this summer. They are keen to sell Nicolas Pepe, Emile Smith-Rowe, Rob Holding, Nuno Tavares, Folarin Balogun, Albert Sambi Lokonga and Cedric Soares in the near future.

Meanwhile, Granit Xhaka is likely to end his seven-year spell at the Emirates at the end of the ongoing season. The 30-year-old is close to finalising a £13 million deal to Bayer Leverkusen, as per transfer expert Fabrizio Romano.

Should Rice and Caicedo join the Gunners this summer, they would emerge as the first-choice starting pair in midfield for them. Their presence would likely demote Thomas Partey to a rotational role like Jorginho and Mohamed Elneny.

Premier League giants monitoring Arsenal-linked midfielder: Reports

In his column for Football Insider, reliable journalist Pete O'Rourke provided insight into Declan Rice's potential future destinations. Asserting that Manchester City are currently keeping close tabs on the Englishman, he wrote:

"Manchester City continue to monitor the situation of West Ham captain Declan Rice. He will cost a fee in the region of £100 million, and the Cityzens are one of the only sides capable of making that financial commitment. I'm told that Rice could come back on the radar at City despite Arsenal being in the box seat to do a summer deal."

Should the former Chelsea academy star join the Cityzens this summer, he would be a regular starter in a double pivot. He could fill departing Ilkay Gundogan's boots due to his stellar passing and hard-tackling presence.

So far, the Arsenal target has netted 14 goals and laid out 13 assists in 241 overall matches for the Hammers.