Real Madrid attacking midfielder Isco has rubbished rumours linking him with a move to Arsenal or Manchester United.
Arsenal will sign "a maximum of two or three" players during the summer transfer window, manager Arsene Wenger said.
Arsenal goalkeeper Wojciech Szczesny has agreed to join Serie A champions Juventus, Sky Sports has revealed.
Schalke 04 left-back Sead Kolasinac will be announced as an Arsenal player in the coming days, according to the Sun.
Arsenal will offer a new £100,000-a-week contract to attacking midfielder Alex Oxlade-Chamberlain in an attempt to keep him at the Emirates.
Arsenal striker Olivier Giroud says he has no intention of leaving the English Premier League to make a return in the French Ligue 1.
