Dominic Calvert-Lewin is Arsenal's top target if their bid to sign Dusan Vlahovic fails.
But the Gunners know any move to sign the England striker will not be possible until the summer - and will be met with resistance from Everton, as first reported by the Daily Star.
Fiorentina striker Vlahovic looks set to join Juventus - even though Arsenal were prepared to do a deal worth over £50m to bring him in now.