Arsenal supporters have been left a little underwhelmed by the club's activity in the transfer market thus far.
The north London outfit continue to be linked with Bolton's Gary Cahill, Blackburn's Christopher Samba and Lille's Gervinho although no official offers have been submitted yet. The Gunners' only signing to date has been the Charlton defender Carl Jenkinson and as Samir Nasri and Cesc Fabregas continue to be linked with moves away from the Emirates, the club are in danger of falling further behind Manchester United and Chelsea.
All that could be about to change, with reports in the Daily Mail suggesting that Arsene Wenger is prepared to pay £18m for the highly-rated Valencia winger Juan Mata.
The 23-year-old Spaniard posted a series of impressive displays at the recent European Under-21 championships and has been linked with a number of European sides including Juventus, Chelsea and Liverpool.
Valencia are believed to be open to offers for the midfielder as the club struggles to clear debts totalling around £350m. Mata, a product of the Real Madrid youth system, can play on the left flank or in a support role up front.
A player of undoubted quality, Mata's arrival could signal the end of Andrey Arshavin's Arsenal career. Last season the Russian was a pale imitation of previous campaigns and Wenger is believed to have grown frustrated with the forward's failure to impose himself in important games.
With Cesc Fabregas the subject of yet another Barcelona bid, unconfirmed reports suggest Spain international Pedro Rodriguez could move in the opposite direction.
The Gunners are among a number of top European clubs interested in signing the Barcelona player, whose future in Catalunia has been drawn into doubt with the impending arrival of Udinese winger Alexis Sanchez.
Pedro is highly regarded by Barcelona manager Pep Guardiola and the Spaniard is unlikely to sanction the winger's transfer. However, the possibility of the player being involved as part of a cash-plus-player deal in the Fabregas saga remains an outside possibility.
Finally, Caught Offside suggests the Gunners are preparing to 'hijack' Chelsea's bid for Anderlecht and Belgium international Romelu Lukaku.The report suggests Arsene Wenger is ready to offer £17.9m for the highly-rated youngster who has lit up the Belgian league in the past two seasons.