Arsenal have reportedly drawn up a four-man shortlist of potential incomings ahead of the January transfer window, with the Gunners targeting two positions for reinforcements.
The North Londoners are on a mission to challenge the likes of treble-winners Manchester City and local rivals Tottenham Hotspur for the Premier League crown this season.
Mikel Arteta's men have started the campaign brightly, collecting 20 points from their opening eight league matches and maintaining their unbeaten status, with Arsenal sitting second in the top-flight standings, only behind Ange Postecoglou's Spurs on goals scored.
Prior to the international break, the home supporters at a packed-out Emirates Stadium saw their side defeat Pep Guardiola's Citizens for the first time in the Premier League since 2015, with Gabriel Martinelli netting an 86th-minute winner.
According to The Mirror, Arsenal have highlighted four players who they would be open to bringing into their first-team ranks during the upcoming transfer window.
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The report claims that the Gunners' number-one priority in 2024 will be Brentford striker Ivan Toney, who is currently out of action as he serves an eight-month ban for breaking Football Association betting rules.
Having scored 20 goals in the Premier League last term for the Bees, Arteta views the former Peterborough United man as a player who could provide adequate support for Gabriel Jesus and Eddie Nketiah in a central-striking role.
A stumbling block in a switch across the capital for Toney may arrive in negotiations over a suitable fee however, with Brentford unwilling to let go of their marksmen for anything less than £60m, and The Athletic is claiming that the Gunners are not looking to spend big in January.
Arteta's side are also said to be in the market for fresh options on the wing amid concerns around the workload of academy graduate Bukayo Saka, and it is understood that RB Leipzig's Dani Olmo has admirers at Arsenal, according to German outlet Bild.
The Spaniard is a versatile forward player who can operate in a multitude of positions across the attacking line, however with his current deal at the Bundesliga club expiring in the summer of 2027, his services will not come cheap for potential suitors.
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It is also believed that the North Londoners are considering a move for Wolverhampton Wanderers' Pedro Neto in the New Year, with the Portuguese scoring one goal and providing five assists in eight Premier League matches so far this term.
Similar to the contract situation of Olmo, Neto is tied down to the Black Country club until 2027, and considering the winger's importance to Gary O'Neil's side, a switch to the Emirates would not be without its obstacles.
Finally, it is understood that Arsenal are interested in bringing Paris Saint-Germain's Ousmane Dembele to the Premier League, despite the Frenchman only moving to Ligue 1 from Barcelona in August.
Arsenal will be looking to make it nine games unbeaten at the start of their 2023-24 league campaign as they make the trip across the capital to face London rivals Chelsea on Saturday evening.