The transfer window has been open for three weeks and, as a result, silly season is in full swing.
From trying to round up new players to seeing others potentially head for the exit, the rumour mill has well and truly started spinning.
Here are the five biggest Arsenal transfer rumours this week.
5. Alexandre Lacazette bid rejected
Lyon are thought to be asking for £44m plus add-ons, taking the 26-year-old’s total price to £60m.
Lyon president, Jean-Michael Aulas, is being his normal flaky self and blowing hot and cold over whether the Ligue 1 side are actually selling the striker or not. However, it does seem as if negotiations are under way.
4. Two bids for Thomas Lemar rejected
Arsenal allegedly had a £31m bid for Monaco winger, Lemar, rejected. They then entered another one, thought to be in the region of £35m, which was also knocked back.
It’s not looking likely that Arsenal will sign the 21-year-old as Monaco aren’t willing to allow both Lemar and Tiemoue Bakayoko to leave this summer.
Bakayoko has gone to Chelsea.
3. Alexis Sanchez to Manchester City hots up
While it seems highly unlikely, City are allegedly confident that they’ll land Alexis this summer after Bayern Munich appear to have been priced out of the running.
It’s even being reported that Pep Guardiola is willing to offer Sergio Aguero as part of a swap deal for the Chilean.
2. Arsenal end interest in Kylian Mbappe
Arsenal have reportedly decided to get real and realise that they’re probably not going to sign Mbappe from Monaco this summer.
There’s too much competition, he’ll cost too much money, and, besides, it looks as if he’s staying at Monaco anyway.
Instead, Arsenal are going to concentrate on Lacazette.
1. Gunners turn to Riyad Mahrez instead of Lemar
With Monaco rejecting two of Arsenal’s bids for Lemar, Arsenal are set to turn their attention to Mahrez, who they were after last summer.
This time, the forward is up for a move, with some outlets claiming he’ll only set the Gunners back £35m.