Meanwhile, the Gunners are edging closer to completing a deal for a Manchester City striker. Elsewhere, Paddy Kenny has tipped Gunners manager Mikel Arteta to go on a spending spree this summer.
On that note, here's a look at the key Arsenal transfer stories as on 13 May 2022:
Arsenal very close to signing Gabriel Jesus
The Brazilian is likely to leave this summer, with Erling Haaland arriving at the Etihad. The Emirates is Jesus’ likeliest destination right now, with Arteta planning to install him as the focal point of his attack.
The Gunners have already begun preparations to complete a move for the Brazilian. City could be willing to let him leave for the right price. The north London side are ready to offer €50 million for Jesus, and the player could be handed a five-year deal.
Paddy Kenny backs Mikel Arteta to go on spending spree this summer
Former Leeds United goalkeeper Paddy Kenny believes Mikel Arteta could go on a spending spree this summer. Arsenal are on the rise under the Spanish manager but will need reinforcements to continue their development.
Speaking to Football Insider, Kenny said that Arteta only signed an extension because he was promised new faces.
"You always have to spend to compete. They are on for a place back in the Champions League, and that’s where they want to be. Arteta’s transfers so far have been pretty good, you have to say. So I’m sure the owners won’t have a problem letting him take charge again," said Kenny.
“Has he been given guarantees? I would think so, you don’t sign a new deal without several things being made clear. He will know how much he has to send, and he will hope he can compete with the likes of Tottenham or even Chelsea. Another big spend this summer could really take them to the next level."
Alex McLeish tips Gunners to sign Raheem Sterling
Former Scotland manager Alex McLeish has backed Arsenal's pursuit of Raheem Sterling. The Englishman is likely to leave Manchester City this summer, and the Gunners are hot on his heels.
Speaking to Football Insider, McLeish said that Sterling would fit right in at the Emirates.
"Yeah, I do. I think he’d be a wonderful signing. Watching his performance last week (v Newcastle), back in the City side, he was exceptional. It was almost like he’s got a point to prove by Pep leaving him out and the speculation that he might be leaving the club," said McLeish.
"He looked hungrier than ever. That would be a tremendous signing for any club. Arsenal should be able to tempt him. He’s a Londoner anyway, and I think he didn’t live very far away from Wembley and north London. He would be a great signing for Arsenal. They’ll try and command a big fee for him if they decide to let him go."
Sterling has scored 17 times in nearly 50 games across competitions this season.