Arsenal completed the signings of Gabriel Jesus and Oleksandr Zinchenko from Manchester City last summer. Now, Mikel Arteta could be set to raid the Etihad Stadium for yet another one of Pep Guardiola's star players.
Joao Cancelo is the latest City player to be linked with a potential transfer move to the Emirates Stadium - and what a signing it would be for the Gunners. The Portuguese defender joined Bayern Munich on a six-month loan deal back in January after falling down the pecking order in Guardiola's squad.
A report from the Telegraph states that Arsenal are interested in signing Cancelo, although they fear that the Citizens won't be so willing to sell to them this summer following deals to sign Jesus and Zinchenko last summer. The report adds that the Gunners want to strengthen at full-back this summer and could revive their interest in Real Valladolid starlet Ivan Fresneda, if they aren't able to sign Cancelo at the end of the current campaign.
READ MORE: What Pep Guardiola has said about Joao Cancelo's Man City future amid Arsenal transfer talk
Other areas that Arsenal are looking to strengthen this summer include centre-back, central midfield and attack. Sporting director Edu Gaspar is set for a busy transfer window which could see the Gunners spend over £200million on new signings.
football.london reported back in January that the north Londoners are prioritising a move for West Ham captain Declan Rice. According to the Telegraph, Arsenal are putting together an offer worth a club-record £92million for Rice, although West Ham want as much as possible of that sum paid up front.
The Gunners could raise a significant amount of funds from player sales with Granit Xhaka being one of a number of stars that look set to leave the Emirates Stadium. The Swiss midfielder is in advanced talks to join for Bayer Leverkusen in a €15million (£13million) deal and is prepared to sign a contract until 2027, football.london understands.
Arsenal's move for Rice could see them invest a large amount of their transfer budget into a deal for the England international, leaving them short for money to bolster other areas of Mikel Arteta's squad. Signing Cancelo would help cover a few key areas for the Gunners and help save them money on other targets.
The Portugal international can play at right-back, left-back and as a winger meaning he would provide quality cover for Ben White, Bukayo Saka and Oleksandr Zinchenko. A move for Cancelo could also see White return to centre-back if Arteta opts to start the current City defender in his favoured position on the right side of defence.
football.london understands Marc Guehi is among the targets being considered at centre-back. Crystal Palace are said to have set a £50million asking price to allow the former Chelsea defender to leave Selhurst Park this summer - a fee which may not be agreeable if Arsenal invest in signing Rice.
The Hammers captain can also provide cover at centre-back, but with Xhaka and Albert Sambi Lokonga looking set to leave the club this may not be viable next season. Cancelo's arrival would not only add quality, experience of winning titles and weaken a Premier League rival - it could actually save the Gunners over £50million to spend elsewhere on the squad.
Arteta worked with the 28-year-old during their time together at City and could reunite with Cancelo at Arsenal - as he did with Jesus and Zinchenko. The Portuguese defender had previously been considered to be one of the best full-backs in the Premier League and he could prove to be a huge asset for the Gunners as they prepare for a return to the Champions League and look to maintain their status as title challengers.
READ NEXT:
Martin Odegaard set for talks over Arsenal contract as Gunners continue proactive approach
How Man United signing Kim Min-jae can secure Arsenal transfer windfall
Premier League loophole allows Arsenal to accelerate Moises Caicedo transfer and two more deals
Arsenal discover route to avoid nightmare Champions League draw - but Liverpool can change it
Arsenal news and transfer LIVE: All the latest updates from the Emirates Stadium
