Arsenal are reportedly willing to spend up to £47m on three new players in the summer in the hope of challenging for the Premier League title.
Gunners boss Arsene Wenger is said to be targeting a number of big signings to challenge Chelsea and Manchester City in the long term.
According to The Mirror, the North Londoners know exactly who they want to bring to the Emirates Stadium.
Southampton's French midfielder Morgan Schneiderlin, who is believed to be priced at £25m, is top of their wanted list.
The Gunners are looking for a new goalkeeper and will reportedly make a £6m bid for Chelsea's Petr Cech, provided that the Blues are willing to sell to a rival.
The report adds that Arsenal are also hopeful of securing Borussia Dortmund defender Neven Subotic for £16m.
Arsenal have also been linked with AC Milan forward Stephan El Shaarawy.
