Gunners have signed just one player this summer in Granit Xhaka.
Leo da Silva has made 10 appearances for Peterborough United and has been likened to Dele Alli.
Catalan giants pay a reported fee of €55m to sign Portugal international from Valencia.
Wijnaldum will be Liverpool's sixth signing of the summer.
Arsenal were hoping to tie down Bellerin to new deal.
Barcelona were looking at signing Manchester United target Paul Pogba.
Juan Mata's future was uncertain after Manchester United appointed Jose Mourinho.
Chelsea have already signed Michy Batshuayi from Marseille and are also linked with Alvaro Morata.
James Rodriguez made only 17 starts for Real Madrid last season in the league.
Austrian defender made 21 appearances during his first season at White Hart Lane.
Gunners in action in northern France on Friday.
Anthony Martial takes the no.11 shirt previously worn by Ryan Giggs.
Foxes captain Wes Morgan wants Algeria winger to become latest player to commit his future.
The saga looks set to rumble on further with Jose Mourinho remaining coy on latest speculation.
Wales international is subject to a £13m bid from Premier League rivals Stoke City.
United and Dortmund will face each other in the pre-season clash in China.
The 2014 World Cup winner made just 73 appearances during a difficult three-year stint in Bavaria.
Arsenal play MLS All-Stars on 28 July in San Jose.
Juventus defender Leonardo Bonucci is also subject to interest from Chelsea.
Reports on Wednesday claimed Juventus have accepted £100m offer for the midfielder.
Former England captain hails Jose Mourinho's appointment at Old Trafford.
Arsenal begin their pre-season campaign against Lens. Find out where to watch the game live in the UK.
Raphael Varane is ready to fight for his place at Real Madrid under idol Zinedine Zidane.
Georginio Wijnaldum was Newcastle United's top scorer with 11 goals in the 2015/16 campaign.
Men and women's handball teams compete for gold in Brazil.
Mayoral, 19, hopes experience in a foreign league will help him establish himself in Real's first-team.
Paul Pogba was part of the France squad that lost to Portugal in Euro 2016 final.
Moussa Sissoko earlier admitted that Arsenal are his dream club.
Lindelof was also a reported target for Real Madrid and Barcelona.
Joshua Bohui was Brentford academy's top scorer last season.