Reports suggest Arsenal are tracking two attacking targets valued at over £150 million combined, but competition from domestic and European rivals is intensifying.
Arsenal have been linked with moves for Florian Wirtz and Matheus Cunha, according to Harian Metro which has collected reports from other outlets.
Wirtz, 21, is an attacking midfielder for Bayer Leverkusen and the Germany national team.
He is valued at around £103 million, with Manchester City, Liverpool, and Arsenal all reportedly interested.
City are currently considered favourites to sign him.
Cunha, 25, plays as a forward for Wolves and has a £62.5 million release clause. Arsenal tried to sign him in January.
Manchester United are now said to be leading the race and hope to pay his fee in instalments. Wolves are open to a staggered payment structure.
Arsenal, Newcastle, and Nottingham Forest are also monitoring the situation.
By way of nothing much, an interesting stat I read recently showed that no other player spends more time walking during Premier League matches than Matheus Cunha.
There have been no official bids or confirmation of talks from Arsenal for either player.