Mikel Arteta handed £50 million transfer budget by Arsenal to seal two signings in January - Reports

Arsenal manager Mikel Arteta will have a budget of over £50 million in the January transfer window, according to Football Insider.

Arsenal have already claimed their stake as Premier League title contenders this season. They currently sit atop the table with 37 points, having won 12, drawn one, and lost one of their 14 matches so far.

While we are not halfway through the season yet, the Gunners boast a five-point lead over defending champions Manchester City. They will be hopeful of keeping their place at the top of the table come the end of the campaign.

According to the aforementioned source, the Arsenal hierarchy is prepared to back Arteta in the January transfer window to keep the title push going. The manager will be allowed to spend over £50 million if the right players are available.

The north London giants recently suffered a heavy blow when it emerged that Gabriel Jesus had been sidelined due to an injury. The Brazil international has notably been ruled out for the remainder of the 2022 FIFA World Cup.

However, Arsenal will not sign a new striker to provide cover for Jesus, as per the report. It appears they will be looking to strengthen other areas of the team when the window opens in January.

The Gunners have long been tipped to sign a wide attacker in the winter transfer window. Meanwhile, they are also said to be on the lookout for a new central midfielder.

Arteta's side could thus add two new players to their ranks in January. However, it remains to be seen who their priority targets are.

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Arsenal have been linked with Ukrainian attacker Mykhaylo Mudryk

Shakthar Donetsk star Mykhaylo Mudryk is one attacker Arsenal have been heavily linked with in recent months. He can operate on both flanks or even down the middle.

Mudryk has found the back of the net 10 times in 18 appearances across all competitions for the Ukrainian outfit this term. He has also provided eight assists for his teammates.

Apart from Mudryk, the north London giants have also been credited with an interest in Orlando City's Facundo Torres. The winger was part of Uruguay's squad in the 2022 FIFA World Cup.

Torres has scored 13 goals and registered 10 assists in a total of 40 matches for the Major League Soccer (MLS) club so far. He is thus said to be a player of interest for the Premier League toppers. Meanwhile, it is unclear who they are targeting in midfield.