As the transfer season approaches, Arsenal are caught up in numerous rumours involving potential signings and player departures. With the team looking to strengthen its squad, let’s explore some of the most prominent rumours surrounding Arsenal’s transfer market activity this week.

Balogun linked with AC Milan

Reims' midfielder Folarin Balogun celebrates after scoring a penalty during the French L1 football match between Stade de Reims and FC Nantes at the Auguste-Delaune stadium in Reims, northern France on November 6, 2022. (Photo by FRANCOIS NASCIMBENI/AFP via Getty Images)
Reims’ midfielder Folarin Balogun celebrates after scoring a penalty during the French L1 football match between Stade de Reims and FC Nantes at the Auguste-Delaune stadium in Reims, northern France on November 6, 2022. (Photo by FRANCOIS NASCIMBENI/AFP via Getty Images)

Folarin Balogun, currently on loan at Stade Reims, has caught the attention of AC Milan after an impressive run in French football, scoring 17 goals in 28 matches. However, Arsenal reportedly wants at least €25 million for the young English striker. AC Milan might only be willing to pay that amount if they secure a Champions League spot.

Zubimendi preferred over Caicedo

SAN SEBASTIAN, SPAIN - MARCH 13: Martin Zubimendi of Real Sociedad celebrates scoring their side's first goal during the LaLiga Santander match between Real Sociedad and Deportivo Alaves at Reale Arena on March 13, 2022 in San Sebastian, Spain. (Photo by Juan Manuel Serrano Arce/Getty Images)
SAN SEBASTIAN, SPAIN – MARCH 13: Martin Zubimendi of Real Sociedad celebrates scoring their side’s first goal during the LaLiga Santander match between Real Sociedad and Deportivo Alaves at Reale Arena on March 13, 2022 in San Sebastian, Spain. (Photo by Juan Manuel Serrano Arce/Getty Images)

Arsenal have set their sights on Real Sociedad’s Martin Zubimendi for a summer move. After being rebuffed in January, Arsenal are expected to continue pursuing the midfielder, who has a €60 million release clause. Moisés Caicedo, another potential target, seems unlikely due to his recent contract extension at Brighton & Hove Albion.

Diaby in Arsenal’s crosshairs

MADRID, SPAIN - OCTOBER 26: Moussa Diaby of Bayer 04 Leverkusen reacts during the UEFA Champions League group B match between Atletico Madrid and Bayer 04 Leverkusen at Civitas Metropolitano Stadium on October 26, 2022 in Madrid, Spain. (Photo by Angel Martinez/Getty Images)
MADRID, SPAIN – OCTOBER 26: Moussa Diaby of Bayer 04 Leverkusen reacts during the UEFA Champions League group B match between Atletico Madrid and Bayer 04 Leverkusen at Civitas Metropolitano Stadium on October 26, 2022 in Madrid, Spain. (Photo by Angel Martinez/Getty Images)

Moussa Diaby, Bayer Leverkusen’s full-back, has piqued Arsenal’s interest. Last summer, Diaby was linked with Newcastle United, but Leverkusen’s high asking price derailed any deal. Borussia Dortmund’s Julian Brandt has also been mentioned as a possible target for the Gunners.

Arsenal leads race for Declan Rice

NEWCASTLE UPON TYNE, ENGLAND - FEBRUARY 04: Declan Rice of West Ham United gives a thumbs up to the fans after the Premier League match between Newcastle United and West Ham United at St. James Park on February 04, 2023 in Newcastle upon Tyne, England. (Photo by Ian MacNicol/Getty Images)
NEWCASTLE UPON TYNE, ENGLAND – FEBRUARY 04: Declan Rice of West Ham United gives a thumbs up to the fans after the Premier League match between Newcastle United and West Ham United at St. James Park on February 04, 2023 in Newcastle upon Tyne, England. (Photo by Ian MacNicol/Getty Images)

According to the Guardian, Arsenal is ahead in the battle for West Ham United’s Declan Rice. Chelsea is reportedly interested in the defensive midfielder, but the Gunners are considered the favourites. West Ham’s asking price for Rice is around €110 million.

Tierney’s price tag set at €40-45 million

Arsenal's Scottish defender Kieran Tierney looks on after his shirt was torn during the UEFA Europa League Group A football match between Arsenal and FC Zurich at The Arsenal Stadium in London, on November 3, 2022. (Photo by GLYN KIRK/AFP via Getty Images)
Arsenal’s Scottish defender Kieran Tierney looks on after his shirt was torn during the UEFA Europa League Group A football match between Arsenal and FC Zurich at The Arsenal Stadium in London, on November 3, 2022. (Photo by GLYN KIRK/AFP via Getty Images)

Arsenal have reportedly set Kieran Tierney’s asking price at €40-45 million. The full-back has lost his spot to Oleksandr Zinchenko and is seeking a move away from North London. Newcastle United are the leading candidate to sign the Scot.

Palhinha on Arsenal’s radar

LONDON, ENGLAND - FEBRUARY 28:  Joao Palhinha of Fulham scores the team's first goal during the Emirates FA Cup Fifth round match between Fulham and Leeds United at Craven Cottage on February 28, 2023 in London, England. (Photo by Warren Little/Getty Images)
LONDON, ENGLAND – FEBRUARY 28: Joao Palhinha of Fulham scores the team’s first goal during the Emirates FA Cup Fifth round match between Fulham and Leeds United at Craven Cottage on February 28, 2023 in London, England. (Photo by Warren Little/Getty Images)

João Palhinha’s performance at Fulham has grabbed Arsenal’s attention as they look to bolster their midfield. Manchester United, Newcastle United, Liverpool, and Chelsea are also reportedly interested in the Portuguese playmaker.

Asensio linked with Arsenal

Real Madrid's Spanish midfielder Marco Asensio celebrates after scoring his team's fourth goal during the UEFA Champions League 1st round day 6 Group F football match between Real Madrid CF and Celtic FC at the Santiago Bernabeu stadium in Madrid on November 2, 2022. (Photo by PIERRE-PHILIPPE MARCOU/AFP via Getty Images)
Real Madrid’s Spanish midfielder Marco Asensio celebrates after scoring his team’s fourth goal during the UEFA Champions League 1st round day 6 Group F football match between Real Madrid CF and Celtic FC at the Santiago Bernabeu stadium in Madrid on November 2, 2022. (Photo by PIERRE-PHILIPPE MARCOU/AFP via Getty Images)

Marco Asensio, whose contract with Real Madrid expires this summer, has attracted interest from Arsenal. While the club doesn’t consider him a top priority, they may seize the opportunity to sign the attacker if it arises and have reportedly been holding talks over signing the player.

Victor Osimhen off the radar

NAPLES, ITALY - MARCH 03: Victor Osimhen of SSC Napoli reacts during the Serie A match between SSC Napoli and SS Lazio at Stadio Diego Armando Maradona on March 03, 2023 in Naples, Italy. (Photo by Francesco Pecoraro/Getty Images)
NAPLES, ITALY – MARCH 03: Victor Osimhen of SSC Napoli reacts during the Serie A match between SSC Napoli and SS Lazio at Stadio Diego Armando Maradona on March 03, 2023 in Naples, Italy. (Photo by Francesco Pecoraro/Getty Images)

Arsenal is no longer pursuing Napoli striker Victor Osimhen, as the team’s focus has shifted to signing a midfielder. Osimhen’s impressive season in Serie A has drawn interest from several top European clubs.