They’re also on the verge of concluding a deal to sign Martin Odegaard from Real Madrid in one of the more surprising moves of the month.
But there’s still business to be done, and Gunners fans could be in for more deals in and out of the Emirates before the deadline on February 1st.
Plans are already being drawn up for the summer, and there is an expectation that a few players could depart.
Here are today’s Arsenal transfer rumours.
Ryan Bertrand interest
Arsenal are apparently looking at Southampton left-back Ryan Bertrand ahead of the summer transfer window.
The left-back will be out of contract at the end of the season, and it seems he won’t sign a new contract.
And Goal reports Arsenal are interested in making a move for the defender in order to provide competition for Kieran Tierney.
Arsenal are short of options in the left-back position, with Bukayo Saka’s best position seen further up the field.
Bertrand, 31, has been offered a new contract at St Mary’s, but isn’t close to putting pen to paper.
Arteta denies exit talk
Arsenal boss Mikel Arteta has denied suggestions that Callum Chambers could leave this month.
There had been speculation that the defender could depart in the current window, having failed to get first-team minutes under his belt.
But Arteta insisted he wanted Chambers, who recently returned from a long-term injury, to stay put at the club.
“I don’t think that is going to happen, I am really happy with Calum,” the Gunners boss said.
“He has gone through a really difficult period. He has worked so hard. He has looked really good in the last few weeks in training.
“He is not even thinking about his knee right now. We want to give him minutes when we can because he is a player that we believe in.”
Serie A side ends interest in Torreira
Serie A side Torino have ended their interest in signing Lucas Torreira, leaving the Uruguayan in a difficult position.
The midfielder is currently out on loan at Atletico Madrid, but has struggled to settle in Spain.
Speculation had suggested he could be offered a route out of the Wanda Metropolitano, but Torino have now apparently started to look elsewhere.
Odegaard loan branded ‘risky’
Arsenal fans are beside themselves at the club managing to conclude a deal to bring Odegaard to the Emirates, but not everyone is convinced.
Gunners hero Kevin Campbell believes the move for the 22-year-old is a risk due to the fact he hasn’t played in the Premier League before.
He told The Metro : “We’ve got enough experience in the squad to last a lifetime, we need to bring that age group down within the squad.
“He’s not the type of kid who wants to just sit around, he wants to play, he’s a very talented player.
“It is a risk because I don’t know how he would react to playing in the Premier League but one thing I do know is he’s got the talent.”