Arsenal are preparing an £18m bid for Real Sociedad winger Antoine Griezmann in the summer, according to the Daily Mail.
The Frenchman has been in brilliant form, scoring 16 goals in the league this season and assisting three and has struck up good understanding with yet another Arsenal target, Carlos Vela.
His performance has got him a call-up to the French national squad and he will travel with the squad to Brazil for the tournament scheduled to begin next month.
The Gunners have been eyeing the player for quite some time now and his arrival will give them some much needed pace through the left flank, which has been a major problem for the north London club.
Lukas Podolski, who operates on that flank, has a great left foot but has flattered to deceive at times this season, with Wenger refusing to play him on a regular basis owing to his languidness on the ball.
However, Griezmann's arrival on the left supplemented by Walcott's presence on the opposite flank will give Arsenal the means to go beyond the last man and push the opposition back. Failure to do this has hurt Arsenal this season.
Wenger confirmed that they had been keeping a keen eye on his progress since last March and are likely to translate their interest into an official bid in the summer.
"We are following him [Griezmann] in great detail. He attracts other clubs as well but we follow him, he is a known commodity," Wenger said.
Meanwhile, the Gunners are also looking to bring back Cesc Fabregas from Barcelona after the former Arsenal captain was given the green light to move out of the club.
The midfielder has failed to live up to expectations with the Catalans and has been found wanting at times this season. A return to the Emirates, where he was crowned the captain during his time at Arsenal, will start a new dawn for the midfielder who is desperate to recapture his form.