Arsenal four-man January transfer shortlist emerges as Mikel Arteta's budget revealed

Arsenal are already putting plans in place ahead of the January transfer window as Mikel Arteta looks to reinforce his squad with new signings. The Gunners are currently joint-top of the Premier League table and set to mount another title challenge this season following last season's runners-up result.

Arsenal continued their unbeaten run in the Premier League with a crucial 1-0 win against reigning champions Manchester City prior to the international break — highlighting the improvement made at the Emirates Stadium. The north Londoners can use the experience of last term's title challenge to help them this season and Arteta will not rest on his laurels as he looks to add reinforcements mid-season.

A new striker is thought to be on the Gunners' agenda in January with Brentford striker Ivan Toney linked with a switch to the Emirates Stadium. A back-up option for Bukayo Saka could also be considered — but Arsenal could be forced into selling fringe players to raise funds before they can buy new players.

A report from Mirror Football states that Arteta has made Toney his number-one transfer target for January and is determined to get Arsenal to the front of the queue ahead of Chelsea and Tottenham. Toney will return from his betting ban in the New Year and Brentford are prepared to sell, but only if their £60million price tag is met.

Toney recently changed agents as he plots a move away from Brentford when his ban ends in January. However, in order to sign the England international it could see the likes of Mohamed Elneny, Cedric Soares and possibly even Eddie Nketiah be sold to help fund the £60million fee it would take to sign Toney.

The Athletic have already reported that the Gunners have a limited budget heading into