Arsenal are ready to splash the cash on Lazio midfielder Sergej Milinkovic-Savic, according to reports.
After narrowly missing out on a top-four finish in the Premier League last season, the Gunners will be looking to go one better next term.
In order to do so they will need to strengthen their squad in several areas, and Mikel Arteta is expected to be given money to spend this summer.
Milinkovic-Savic, who has been linked with Manchester United on a regular basis, has emerged as a target for the north London side.
Corriere dello Sport writes that Arsenal are willing to pay in excess of £42m for the Serbia international.
Milinkovic-Savic is ready to seek pastures new this summer after spending seven seasons at Lazio following his move from Genk in 2015.
No official offers have been submitted for the midfielder yet, but Arsenal are weighing up a bid.
However, there are fears at the Emirates Stadium that Newcastle could enter the race to sign the 27-year-old.
In the Public Investment Fund of Saudi Arabia, the Magpies have the richest owner in world football.
They could potentially trump any bid that Arsenal submit for Milinkovic-Savic, although Newcastle's absence from European competition could count against them.
While Milinkovic-Savic could swap Rome for London ahead of next season, Granit Xhaka could move in the other direction.
Roma came close to signing the Switzerland international last summer and Jose Mourinho's side are poised to renew their interest in him.
Xhaka was a regular starter for Arsenal in 2021/22, forming a solid partnership with Thomas Partey in the engine room.
Xhaka is under contract in north London until 2024, while Arsenal have the option to extend his deal by another 12 months.
But the midfielder might be keen for a new challenge after six years at the Emirates, during which time he has endured an up-and-down relationship with Arsenal supporters.
