Arsenal are reportedly planning a double swoop for Real Madrid pair Karim Benzema and Angel di Maria.
Gunners boss Arsene Wenger is willing to shell out £40m on French forward Benzema after missing out on Luis Suarez, according to BBC Sport.
Wenger is also said to be keen to boost his midfield with the acquisition of Argentine left winger Di Maria.
Arsenal have signed just one player over the summer, French youngster Yaya Sanogo, who joined the club on a free transfer from Auxerre.
However, Wenger is understood to have around £100m at his disposal for strengthening the team.