The French manager has expressed frustration at his side's lack of cutting edge given the Gunners' tally of three goals in four games this season - two of which own goals - and appears to finally be acting on the growing issue.
It remains to be seen whether the north London side can force a move at such late notice, though, with it reported that a deal for the Uruguayan could hit various complications, with his high price tag likely to be a sticking point.
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Should Wenger pull off the deal, Cavani's arrival would be a massive statement of intent in terms of Arsenal's title credentials, with the general consensus being that a world-class striker is the missing link for a side that, since the departure of Robin van Persie, have lacked sufficient fire power up top.
Arsenal fans are all too used to deals falling through for high-profile names, though, with Real Madrid striker Karim Benzema epitomising this.
The Frenchman was linked with a move to north London throughout the duration of the summer, with many believing that a transfer for one of the world's most coveted strikers was possible.
Benzema, however, ultimately tarnished the rumours himself having posted a variety of Real Madrid-related social media posts, with the 27-year-old seemingly content with life in Madrid.
Pierre Emerick-Aubameyang and Gonzalo Higuain have also been frequently linked throughout the summer, though similarly, it looks as though deals for the pair are unlikely.
The signing of the 28-year-old Cavani would be one of the utmost magnitude, with his pace, clinical finishing and ability to turn a game on it's head something that Olivier Giroud is incapable of doing, though whether Wenger can pull off the deal with such little time is another question in itself.