Arsenal are reportedly prepared to spend up to £180m on new signings in next summer's transfer window.
After splashing out over £135m on six players last summer, Mikel Arteta was frustrated in the January window, with primary target Dusan Vlahovic joining Juventus.
According to The Sun, the Gunners are now planning the biggest spending spree in their history, with owner Stan Kroenke prepared to back Arteta and fund a major squad overhaul.
The report adds that Arteta is aware that he will need to steer Arsenal into the Champions League if they are to attract the players that he wishes to recruit ahead of next season.
Everton's Dominic Calvert-Lewin and Real Sociedad's Alexander Isak are believed to be their primary striker targets, while Wolverhampton Wanderers midfielder Ruben Neves is also on their radar.
Arteta will now be coaching just 20 senior players for the remainder of this season, following the departures of Ainsley Maitland-Niles, Callum Chambers, Pablo Mari, Sead Kolasinac and Pierre-Emerick Aubameyang in January.
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