The Gunners failed to make a single signing in the January transfer window due to concerns surrounding their Financial Fair Play position.
However, Arsenal are expected to strengthen their squad ahead of the 2024-25 campaign after the club's sporting director Edu recently hinted that plans were already being drawn up for the summer market.
The Gunners are likely to prioritise signing a new striker to add to their current forward options of Gabriel Jesus and Eddie Nketiah.
Jesus's recurring fitness issues have seemingly played a role in Arsenal's decision to scour the market for attacking reinforcement.
The Brazilian international has missed 13 competitive this season due to injury, including Arsenal's first four games of February before he returned to the matchday squad for Saturday's 4-1 win over Newcastle.
According to the Daily Mail, Arsenal have drawn up a four-man striker shortlist which includes Brentford marksman Ivan Toney.
The England international has been linked with a move to the Emirates Stadium over the last few months, including speculation that he could leave Brentford in the winter window.
Although Toney remained with the Bees, Thomas Frank has hinted that Toney could depart at the end of the season with his contract set to expire in June 2025.
Toney has netted four goals in seven matches since returning last month from an eight-month ban for breaching the Football Association's betting regulations.
Napoli forward Victor Osimhen is also being considered as a potential target despite signing a new contract in December to extend his deal until June 2026.
The Italian club's president Aurelio De Laurentiis has
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