Arsenal have already conducted some eye-catching transfer business this summer.
The Gunners have signed Willian and Gabriel Magalhaes – and snapped up Real Madrid midfielder Dani Ceballos for a second year on loan.
But there are still expected to be plenty of comings and goings at the Emirates before the October 5 deadline, with Mikel Arteta keen to build a side capable of challenging for a Champions League place next season.
We take a look at four of the latest Arsenal transfer rumours.
Barcelona register Bellerin interest
Barcelona have held discussions with Arsenal sporting director Edu over signing right-back Hector Bellerin, according to Sport.
Arsenal are reportedly willing to sell Bellerin in order to fund moves for their top targets, with Bayer Leverkusen and Paris Saint-Germain also having been linked with the 25-year-old.
As per the report, the Gunners have indicated that they will accept an offer between €20million (£18.1m) and €25m (£22.7m).
However, Barca will need to sell Nelson Semedo before meeting Arsenal’s valuation.
Bellerin came through Barcelona’s academy before joining Arsenal in 2011. He has made 205 appearances since, helping the club win three FA Cups during his time in north London.
Lyon not interested in Guendouzi as part of Aouar deal
Lyon sporting director Juninho has ruled out a move for Arsenal’s Matteo Guendouzi as part of a deal that would see Houssem Aouar join the Gunners.
Aouar has been linked with a move to Arteta’s side following an impressive season in France, although the 22-year-old may cost in excess of £50m.
Arsenal broached the possibility of a cash-plus-player deal with Guendouzi offered to the Ligue 1 side.
The 21-year-old, however, does not interest Lyon, according to Juninho.
"I get on very well with [Arsenal technical director] Edu, we spoke on the phone," he told RMC Sport.
"Aouar is really appreciated by Mikel Arteta.
"Guendouzi was discussed during the call. He is a great player, but he is the wrong profile. We are not interested in that at all, we cut the conversation."
Torino and Fiorentina battle for Torreira
Serie A pair Torino and Fiorentina are locked in a battle to sign Arsenal midfielder Lucas Torreira, according to La Nazione.
Torreira is expected to leave the Emirates having fallen down the pecking order under Arteta.
While Torino have offered £21.8m for the Uruguayan, Fiorentina are willing to spend £9m to bring the 24-year-old on loan with an £18.1m obligation buy in 2021.
Torreira has made 89 appearances for Arsenal since joining from Sampdoria in 2018.
Villa await response to second Martinez bid
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Aston Villa are yet to receive a response from Arsenal after submitting an improved bid in excess of £15m for goalkeeper Emiliano Martinez, according to Goal.
Villa’s first bid was knocked back with Arsenal said to value the 28-year-old at closer to £20m.
Martinez impressed after replacing the injured Bernd Leno during the latter stages of the 2019/20 season.
However, with Leno expected to regain the gloves under Arteta, Martinez is said to be weighing up his options given his desire to play regular first-team football.
As per the report, Arsenal are willing to extend Martinez’s contract, which is due to expire in 2022, although the South American would earn more with a move to Villa Park.
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