Arsenal are interested in Leicester City midfielder Riyad Mahrez but have identified Borussia Dortmund playmaker Henrikh Mkhitaryan as a priority signing.
This has been reported by ESPN, who claim that a source close to the north London club has suggested that the Bundesliga star is the Gunners' number one target.
Arsene Wenger's side, of course, are currently attempting to secure the signature of England international Jamie Vardy - they have triggered his £22 million release clause - but reports today have indicated that they will also look to bring his Leicester teammate Mahrez to the club.
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While ESPN claims that the Gunners are interested in the Algeria international, it appears that they would rather bring Mkhitaryan to England before the start of the 2016/17 campaign.
Mkhitaryan, 27, joined Dortmund from Shakhtar Donetsk back in 2013 and has one year remaining on his current contract.
After a prominent campaign for Dortmund - he scored 11 goals in 31 Bundesliga outings - the Armenia international is currently in the prime of his career and would prove a fine coup for Arsenal.
But it appears that the club's hierarchy will have to spend big money to complete the transfer. The same report from ESPN suggests that Dortmund could demand as much €35m for one of their leading players.
After failing to win the Premier League title last term, it's not entirely surprising that Wenger and co. look set to splash the cash over the coming weeks and months.
Arsenal should have secured England's most prestigious honour this past season but just weren't good enough to compete with champions Leicester.
Overhauling rivals Tottenham on the final day of the season certainly lightened the mood around the Emirates, but fans still expected so much more from their leading players.
A couple of top class additions this summer will put the club well and truly in the title picture next term, but they will be well aware that they won't be the only team battling it out towards the summit of the division.
Manchester United, Chelsea, Liverpool, Tottenham and Manchester City will all be hopeful of pushing on, while it would be foolish to write off Claudio Ranieri's Leicester side.
Arsenal fans: who would you rather sign: Mahrez or Mkhitaryan? Have your say below!