The Gunners are favourites to land Napoli defender Faouzi Ghoulam, according to reports.
Arsenal appear favourites to land the left-back as well as Gonzalo Higuain, according to Sport Mediaset.
The 24-year-old only joined Napoli from Saint-Etienne in January 2014 but could be on the verge of a reported £11million move to the Emirates.
Ghoulam, who was born in France, but has played 19 games and scored once for Algeria is also believed to be a target for Chelsea and Manchester United.
The Blues have also been linked with a move for Atletico Madrid’s Toby Alderweireld – the Belgium international spent last season on loan at Southampton.
Alderweireld, 26, can play as a full-back or as a centre-back and is desperate to cement his place in the national side ahead of next year’s European Championships.
If the Napoli player does move to Arsenal that could mean either Kieran Gibbs or Nacho Monreal might be heading for the exit over the summer.
The Blues are reported to be lining up a move for Ghoulam as a replacement for Filipe Luis, who is unhappy at Stamford Bridge.
The Brazil international only joined Chelsea last summer but a lack of starts has left the defender wanting a move back to Atletico Madrid.
Manchester United manager Louis Van Gaal is thought to be keen on the Algeria international to provide competition for Luke Shaw.
The Red Devils are also thought to be planning a big-money move for Real Madrid defender Sergio Ramos – the Spain international could cost around £50million.
Ramos, whose contract expires in 2017, is believed to be unhappy with his current deal and would be open to a move to Old Trafford.
Written by Jack Wynne – @JackRobertWynne