Arsene Wenger watches on from the sidelines
Arsene Wenger is reportedly set to overhaul his squadGetty

Arsenal manager Arsene Wenger is reportedly set to embark on a major spending spree this summer in a bid to revamp his squad. The 66-year-old Frenchman has come under fire this season for refusing to invest further in his squad, but has apparently decided the Gunners need a major rebuild when the transfer window reopens.

Wenger celebrates 20 years in charge of Arsenal in October and is understood to be determined to refresh the playing squad. He has faced stern criticism in recent months for his lack of activity in the transfer market, with some fans calling for him to be replaced.

But according to The Mirror, Wenger retains the support of the Arsenal board, who are not considering making a managerial change. As part of the overhaul, there could be a number of big-name casualties, including England international Alex Oxlade-Chamberlain, who is reportedly attracting interest from the likes of Liverpool and Manchester City.

Meanwhile, the Arsenal boss is keen to rebuild the spine of his team, with Southampton midfielder Victor Wanyama among the players who is attracting his interest. Elsewhere, veteran players Mikel Arteta, Tomas Rosicky and Mathieu Flamini are all set to leave Arsenal when their contracts expire this summer. Kieran Gibbs could also be on his way out after losing his place to Nacho Monreal, while Per Mertesacker's long-term future is said to be under threat.

Conversely, the Gunners are reportedly hopeful of extending Mesut Ozil's contract with the club. The German has been linked with a move back to Spain, where he previously played for Real Madrid, but further contract talks have been scheduled for next month.