Wenger still needs to add quality signings to his squad in order to compete with the likes of Manchester United, Manchester City, Chelsea and Tottenham.
Arsenal have now been linked with Mesut Ozil - another Real Madrid star.
Arsenal started the Premier League season with a 3-1 home defeat to Aston Villa but since then they've beaten Fulham 3-1 at Craven Cottage in the Premier League over the weekend and sealed Champions League qualification with a 5-0 aggregate win over Fenerbahce.
With Gareth Bale likely to complete his move to Real Madrid from Tottenham in the next few days, Arsenal can take advantage of Madrid who are likely to off load a few players.
Arsenal have also been linked with Real's Karim Benzema, who is only allowed to leave the Spanish Giants if they find a suitable replacement in Liverpool's Luis Suarez, who was previously an Arsenal target.
The final Real Madrid player to be linked with the London club is Di Maria, who would add some extra quality and attacking prowess to the Arsenal midfield but he is likely to cost Arsenal something in the region of £25m.
Arsenal also have defensive worries so Arsenal could be looking to strengthen in defence and not just in attack with Thomas Vermaelen injured and Laurent Koscielny suspended Wenger will be looking to add cover in defence.
The Real Madrid trio would definitely get the fans talking positively and will help to create a feel good factor around the Emirates but the question is: Can Wenger and Arsenal pull the signings off?
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