Standard Sport understand Declan Rice is their top target while Brighton’s Moises Caicedo is also of interest, with Granit Xhaka set to depart to clear space for Arteta’s midfield revamp.
Arteta told reporters ahead of facing Nottingham Forest that this coming window will be “crucial” for the club’s ambitions.
“To go to the next level is going to be a crucial summer for us,” he said. “That is for sure.
“First of all to make sure that we maintain everything that we have at the club right now.
“That we maintain expectations, that we maintain enthusiasm and energy that is around the place and we have a proper preparation to fulfil the objectives and the challenges that we will have next season.”
Another potential target is Joao Cancelo, the Manchester City full-back unwanted by both City and loan club Bayern Munich.
Arsenal are thought to be interested in the Portuguese player, who would not come cheap.