Manchester City have spoken with Pedro Neto's agents multiple times but a significant gap between their bid and Chelsea's asking price could hand Arsenal and other Premier League clubs a chance to sign the winger.
Paris Saint-Germain and Aston Villa meet in the UEFA Super Cup at Red Bull Arena in Salzburg on Wednesday, with Champions League holders PSG looking to add a back-to-back Super Cup to their trophy haul while Unai Emery's Villa seek a second European trophy in three months.
Arsenal are seriously considering a move for Barcelona defender Jules Kounde after William Saliba suffered a back injury at the World Cup, with Barcelona signalling they are open to a sale.
Cristian Romero has snubbed Arsenal and chosen Atlético Madrid as his preferred destination, with Tottenham having accepted the Spanish club's offer and a deal now close to being finalised.
Arsenal have emerged as suitors for Chelsea winger Pedro Neto, with insider reports and shifting bookmaker odds suggesting the Gunners are serious contenders for the Portugal international.
Manchester United have made a formal enquiry to Club Brugge for 21-year-old left-back Joaquin Seys, with Arsenal also in the race for a player valued at €35m.
Bruno Guimaraes trained with Arsenal after Sunday's 3-2 friendly defeat to Borussia Dortmund and is expected to make his debut against Como on Wednesday, with a bigger role to follow in the Community Shield.
Arsenal have opened transfer talks with Galatasaray over Gabriel Martinelli as the Brazilian enters the final year of his contract, with Roma also emerging as suitors and a club-record sale possible if a left-wing replacement is secured.
Bradley Barcola has given Liverpool the green light on personal terms, but Arsenal are mounting a rival bid for the PSG winger as Liverpool continue to negotiate a fee with the French champions.
Mikel Arteta has confirmed that both Jurrien Timber and William Saliba will miss the start of Arsenal's Premier League season, with the Dutchman still weeks from return and the Frenchman facing months on the sideline.
Aston Villa have joined Roma in submitting proposals to sign Real Madrid forward Endrick on loan, with the Brazilian seeking regular playing time after a successful stint at Lyon.
Mikel Arteta has hailed the arrival of Bruno Guimarães from Newcastle for £75m, saying the Brazilian warrior will ignite something different in the team as Arsenal look to defend their Premier League title.
Arsenal have shifted their focus to Juventus star Kenan Yildiz as their primary attacking target after Vinicius Junior signed a new long-term deal at Real Madrid.
Cristian Romero is a shock Arsenal transfer target this summer, but Tottenham Hotspur have made clear they have no intention of selling their captain to their north London rivals, with Atlético Madrid closing in on a deal.
Martin Zubimendi's future at Arsenal is under scrutiny after the club's £75m signing of Bruno Guimaraes, with Chelsea's Xabi Alonso and Real Madrid both said to be pursuing the Spain international at a price of at least €90m.
Arsenal have accelerated their pursuit of Atletico Madrid forward Julian Alvarez after missing out on Vinicius Junior, but Diego Simeone insists the club have no intention of selling the Argentina international.
