Chief executive Ivan Gazidis admits Arsenal cannot "outgun competitors" in their battle to sign key players.
Arsenal manager Arsene Wenger has confirmed that defender Per Mertesacker will be out for "months" after suffering a knee injury.
Wissam Ben Yedder will decide whether he wants to join Arsenal or Sevilla in the next 24 hours, according to the Daily Star.
Arsenal manager Arsene Wenger was annoyed after Lyon confirmed that the Gunners made an offer to sign striker Alexandre Lacazette.
Leicester City manager Claudio Ranieri says attacking midfielder Riyad Mahrez would make a mistake if he moves to Arsenal or Chelsea.