Mario Goetze
Manchester United and Arsenal could battle it out for Dortmund midfielder Mario Goetze in January. REUTERS

All the of the latest Arsenal transfer rumours for 23 September 2011. Arsenal are said to be chasing Fiorentina midfielder Juan Manuel Vargas, Mario Goetze and Bolton defender Gary Cahill.

Reports in the Daily Mirror claim Arsenal are scouting Fiorentina 's versatile left sided player Juan Manuel Vargas, but the newspaper claims that Arsene Wenger would need to pay in the region of £10 million to secure Vargas' signature ahead of Juventus.

Vargas can play left back, left wing and central midfielder, and would offer the Arsenal boss a number of options should he pursue a move in the New Year. The Cesc Fabregas and Samir Nasri transfer sagas are said to have impacted the Frenchman over moving for 'El Loco' back in August, but with nothing appearing to stop Arsenal over a move, the north London side could look to brink the player to the Emirates at the next available opportunity.

Reports in Spanish daily Marca claim that Arsenal officials flew out to Spain to hold talks with midfielder Daniel Parejo's representatives.

The Spanish daily suggests talks between the two parties over a possible move in January took place Wednesday, with Arsene Wenger keen to bring the player to the Emirates from Valencia.

Arsenal are also expected to make a move for the Bolton defender with the Trotters manager Owen Coyle saying that he expects Arsenal to revive their interest in Gary Cahill in the January transfer window but the Bolton manager has warned them to expect competition now that the centre-half has established himself as an England international.

Arsenal could face competition from Bayern Munich in the race to sign Borussia Dortmund star Mario Goetze. The 19-year-old has been on Arsenal manager Arsene Wenger's radar for some time, while Manchester United are also believed to be keen on the highly-rated playmaker, who is valued at around £35million.