Check out all the latest Arsenal transfer news and gossip from today.
Arsene Wenger has made a fresh enquiry for Sporting Lisbon star William Carvalho as Arsenal look to sign a top quality defensive midfielder this summer. (Daily Mail)
The Gunners boss is keen to bring the Portugal international to the Emirates, and has already had a £24m bid turned down.
Carvalho has also been a long-term target for Premier League rivals Manchester United, but - like Arsenal - they have been reluctant to meet the £35m buyout clause in the player's contract.
The 22-year-old is widely regarded as one of the brightest young talents in his country at the moment, and Sporting will hold out for a significantly higher fee before agreeing to sell.
Elsewhere, Arsenal have had more success in their search for a new goalkeeper having agreed a £3.2m fee with Nice for David Ospina.
The Colombian starred for his country at the World Cup this summer and has turned down an offer from Valencia in favour of a move to north London, with the deal set to be confirmed imminently.
Arsenal transfer gossip:
Arsenal have not made a bid for Mario Balotelli and no offer has been submitted for the fiery striker, according to his club AC Milan. (The Sun)
The Gunners had been heavily linked with a possible move for the Italy international this summer, as Arsene Wenger looked to bolster his attacking ranks ahead of a pivotal season for the club's long-term future.
However, Wenger has risked incurring the wrath of Arsenal supporters by insisting that the club will NOT sign another striker this summer. (Daily Express)
The veteran French coach believes the club are adequately stocked in attack following the £32 million signing of Chilean winger Alexis Sanchez from Barcelona.
Any hopes that Arsenal fans might have had of signing Alvaro Morata are over, after Real Madrid and Juventus finally agreed the transfer of the 21-year-old for a reported €18 million fee. (Marca)
With a €30 million buyback clause inserted into the deal the Spaniard could one day return to the Santiago Bernabeu, but a switch to the Emirates is now highly unlikely - now or in the future.