Arsenal could complete a £40m double swoop for Alexis Sanchez and Mathieu Debuchy by the end of the week.
Liverpool had hoped to sign Barcelona forward Sanchez as part of the deal that will soon take Luis Suarez to the Camp Nou, but Arsenal are believed to be very confident of securing the Chilean in a £30m transfer.
Sanchez's preference was to move to the Emirates Stadium, rather than as a makeweight in the Suarez package.
Sky Sports News also reports that Newcastle United defender Debuchy will be a Gunners player within the next 48 hours, having apparently already passed a medical ahead of a £10m switch.
The 28-year-old was France's first-choice right-back at the 2014 World Cup, with Didier Deschamps preferring him to Bacary Sagna, who left Arsenal to join Manchester City earlier this summer.
These potential acquisitions represent further signs of ambition from Arsene Wenger, who splashed out £42m to recruit Mesut Ozil last January and hopes to finish his business with a defensive midfielder.
