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Keep up to date with all the latest transfer news, gossip, and rumours from Arsenal in talkSPORT's live blog.
The Gunners are challenging for the Premier League title once again this season but they are still eyeing improvements to their squad.
Mikel Arteta will be out to address his strikers' goalscoring issues while injuries have plagued the defence.
It looks set to be an active January at the Emirates with plenty of outgoing and incomings in North London.
Betting on transfers? Check out talkSPORT BET's latest odds.
Follow our live blog below for all the latest Arsenal news...
Cedric set for exit
Forgotten Arsenal player Cedric Soares is close to sealing a move away from the club, talkSPORT understands.
The 32-year-old Portuguese defender spent the second-half of last season on loan at Fulham and is not in Mikel Arteta's plans in north London.
Soares - formerly of Southampton - has not made an appearance in the Premier League this season, with his only two senior games coming in the Carabao Cup and their Champions League dead-rubber at the end of the group stage.
But he is now set to move to Turkey to join Super Lig giants Besiktas, sources have told talkSPORT.
Talks are at an advanced stage between the clubs, with the defender set to end his four-year stay at the Emirates Stadium.
Soares has made 61 appearances for Arsenal, contributing two goals and five assists.
Credit: GettyMore on Toney
talkSPORT understands that Brentford would demand at least £80million to even entertain the idea of parting ways with Ivan Toney.
This comes after a bombshell interview with Sky Sports, in which Toney said: "You can never predict when is the right time to move elsewhere.
"But I think it's obvious I would like to play for a top club - everybody wants to play for top clubs that are fighting for titles.
"Whether it's this January that is the right time for a club to come in and pay the right money, who knows?
"But my main focus is doing what I do on the pitch, and let the background work take care of itself."
'It's obvious'
Ivan Toney has sent the clearest message yet that he wants to leave Brentford.
The striker has long been linked with a move to Arsenal, with the Gunners big fans of the striker.
And with his ban for illegal betting on football matches over, he's been speaking about his future.
In his chat with Sky Sports, Toney clearly reveals he doesn't want to be at Brentford for too much longer.
He said: "You can never predict when is the right time to move clubs.
"It's obvious I would like to play for a top club."
Credit: Sky SportsEFL club eye Arsenal youngster
Sheffield Wednesday are looking to sign Arsenal youth player Mika Biereth at some point this month.
Alex Miller of The Sheffield Star reports the Owls are keen on bringing the striker to Hillsborough for the second half of the season.
The 20-year-old is a Danish Under-21 international and is currently on loan with Motherwell.
After only playing one of the opening eight SPFL games, Biereth has been regularly contributing to goals.
In just 14 league appearances, he has six goals and five assists and is highly rated within Arsenal.
Zirkee competition
In Arsenal's pursuit for a new contract, they've looked at Bologna forward Joshua Zirkee.
However, Florian Plettenberg from Sky Germany reports the Gunners could face competition from Manchester United.
The Red Devils are looking for another striker to replace Anthony Martial and provide support to Rasmus Hojlund and the former Bayern Munich man is a target.
However, if either Arsenal or Man United are to sign the striker, they will need to pay around £50million.
He has a release clause for this window, but that only applies to Bayern.
Simons the one
Xavi Simons has been linked with a move to Arsenal, and you can see why Mikel Arteta would want him.
The Dutch international is both adept at creating and finishing chances, proving to be an excellent player for RB Leipzig this year.
The 20-year-old is predominantly a right winger, so would provide excellent competition for Bukayo Saka.
However, he can play in an attacking midfield role or on the left, and that sort of versatility is something Arteta craves.
On top of this, he has been playing in the Champions League this year after a stint in the Europa League during the 2022/23 campaign.
So, he ticks a lot of boxes.
Arsenal join race for exciting Bundesliga star
Arsenal are set to compete with Bayern Munich and Barcelona for Xavi Simons' signature.
Bild report the Gunners are well in the race for the Dutchman, who played against Mikel Arteta's men twice in the Europa League last year while on loan at PSV Eindhoven.
He impressed while in the Netherlands and RB Leipzig have got him on loan for the season.
But he is PSG's player and someone they are likely to give plenty of game time next season.
However, should the French giants decide to part ways with the Dutch international, the Gunners would be one of the main competitors for his signature.
Credit: GettyElneny moving on
Mohamed Elneny's long stint at Arsenal might come to an end this month.
Fabrizio Romano reports that the Egyptian international is being targeted by Besiktas and a few Saudi clubs.
The defensive midfielder has been injured for a large part of this campaign and has only made four first-team appearances.
He's a player who Mikel Arteta likes, but the club would be willing to let him leave because he's on the fringes of the first team.
And he could form a double departure with Cedric Soares also potentially joining Besiktas.
Credit: GettyToney's ban over
Ivan Toney's long ban from football is officially over.
The striker was suspended from all football after being found guilty of illegal betting on matches before he joined Brentford.
But the Arsenal target is now back and can play in the Bees' upcoming game against Nottingham Forest.
Thomas Frank is determined for the England international to remain in west London this month.
The Gunners have been heavily linked and could do with a new striker this month.
However, Financial Fair Play restrictions and Brentford's extortionate asking price are proving prohibitive.
But with his ban now over, it would be fascinating to see if Arsenal make a move with their goalscoring issues clear.
Cedric departure accelerating
Arsenal defender Cedric Soares is emerging as a serious target for Besiktas in this month's window.
The Daily Mail report that talks between the two club are underway, with the right-back surplus to requirements.
The former Portuguese international is into the last six months of his contract at the Emirates.
However, Cedric could end up joining the Turkish giants for free at the end of the season or join Besiktas on loan and complete a permanent move at the end of the season.
But either way, his time in north London looks to be up.
Credit: GettyMore on Olise
talkSPORT reported earlier today that Arsenal are among the clubs keeping tabs on Michael Olise's situation at Crystal Palace.
The Gunners, Manchester United, Chelsea, and Manchester City have all been alerted to a release clause in Olise’s freshly signed new contract, believed to be well in excess of £50million.
You can read more on the latest transfer news below...
See ya, Cedric
Arsenal are open to selling Cedric Soares this month ahead of his contract expiring, according to football.london.
The right-back's deal is set to run out at the end of the season and the Gunners want to cash in before he leaves on a free.
Record report that he is attracting interest from Besiktas while 'several approaches' have been made by other clubs.
Cedric's former Portugal boss Fernando Santos is the manager of the Turkish side and that has led to contact between the two clubs increasing.
Credit: GettyFrank on Toney return
Brentford boss Thomas Frank is hopeful that striker Ivan Toney will return from his ban in good condition.
Toney hasn't played a game this season as he served his suspension on the sidelines for breaking betting rules.
Arsenal have been heavily linked with the front man, however, Frank has played down a possible exit and is focusing on his comeback.
He said: “I hope we prepared him that well that he’ll hit the ground running. He’s been training and is fit and ready to go.
"I’m not saying it can’t take a little time to hit the max, but I’m pretty sure he’ll come in on a high level.”
Credit: GettyEagle has not landed
Arsenal are among the clubs keeping tabs on Michael Olise's situation, talkSPORT understands.
Manchester United were believed to be front-runners but their hopes of a free run at a summer move for the Crystal Palace star are set to be scuppered by interest from some big-name rivals.
Incoming minority shareholder Sir Jim Ratcliffe has put England international Olise at the top of his shopping list and talkSPORT revealed on Monday that United would be open to offering former Palace defender Aaron Wan-Bissaka in part exchange.
However, Arsenal, Chelsea, and Manchester City have also been alerted to a release clause in Olise’s freshly signed new contract, believed to be well in excess of £50million.
Credit: GettyKai before you buy
Speaking to Simon Jordan for talkSPORT, former Liverpool star Souness was left gobsmacked by Arsenal’s decision to sign Havertz when the money was needed elsewhere.
He said: “Smith Rowe? I like him. As a midfield player running into the box, clever passes, everything seems to be done when he is sprinting which I like. Goal threat.
“Then you go spend £60million, Arteta. So the point I want to make is that £60m, I think is a fair criticism, you’ve spent…
“You know what I am on about, building a football team, you try to strengthen the weakest part of your team.
“I think for most people, Arsenal needed another striker with [Gabriel] Jesus.
“So you go and take Kai Havertz from Chelsea for big money when really you’ve got a homegrown player that is every bit as good as him.
“So that £60m should have been maybe directed towards a striker and that might cost them, a different kind of striker.
“We were talking about [Ivan] Toney. When you are buying a player, you are trying to eliminate the problem. Why would he not be successful here.
“So if he is a foreigner, will he deal with a different culture, will his family deal with that, will he pick up the language quick enough, will be able to deal with the intensity of the English game?
“So you try and take out one of them.”
Credit: talkSPORTRowe your boat - gently away from Kai
talkSPORT pundit Graeme Souness has hit out at Arsenal for splashing big money on Kai Havertz despite having a perfect player already.
Mikel Arteta had made Havertz a top target in the summer transfer window and Arsenal signed him from Chelsea for £65million.
However, the Germany international has largely failed to impress and has scored five times in 29 appearances.
Meanwhile, Emile Smith Rowe has largely been sidelined by Arteta, though he did suffer a knee injury in November.
Talk of the Toon
Rio Ferdinand has told Arsenal the Premier League striker the club should be signing - and it's not Ivan Toney!
“Alexander Isak was running in behind constantly [against Manchester City], if I’m Arsenal, I’m going all out and buying him,” Ferdinand said on his FIVE podcast.
When questioned about Isak’s potential cost, Ferdinand added: “Why? [Newcastle] can’t spend… they’re struggling with [FFP].
“I think there’s another jump up before [he goes to a club like Real Madrid].
"I saw somewhere they have to sell before they can buy again.”
Credit: AFPJules in their crown
Derby County are close to formalising Arsenal loanee Tyreece John-Jules' stay at the club for the rest of the season.
John-Jules joined the Rams on a temporary deal from the Gunners in the summer that ran for the first half of the 23/24 campaign.
The 21-year-old has battled injury problems at the League One side, but has impressed enough for Derby to want to keep him longer.
Speaking to BBC Radio Derby, manager Paul Warne said: “I believe it is all signed and delivered. He is staying until the end of the season, which is good because we are getting more game time out of him.”
“We still have to be really cautious with him but he had moments tonight where you can see why we want him at the football club,
“He will be a big part going forward.”
Keep calm and carry on
Arsenal are soon to confirm that David Raya's loan from Brentford has been turned into a £30million permanent move.
Fabrizio Romano said: "It will be soon. From what I've heard, it's already agreed, so I don't know when they will make it official.
"It's something that they already agreed in the summer. The Raya deal was going to be permanent at the beginning, but they had to change the structure of the deal because of Financial Fair Play.
"Brentford decided to help Arsenal with that, but it is not going to change anything. The deal will be made permanent."
Credit: GettyArsenal join race for Championship star
Arsenal and Manchester City have joined Liverpool in looking at Sunderland goalkeeper Anthony Patterson.
Freelance transfer reporter Graeme Bailey claims the Gunners are big admirers of the 23-year-old.
He only just recently signed a new deal with the Black Cats, but Sunderland's model consists of them selling young players for a big profit.
Liverpool believe he can be Caoimhin Kelleher's replacement as number two.
And Arsenal believe he can be David Raya's backup, with Aaron Ramsdale expected to depart in the summer.
Ona-no
Sean Dyche isn't keen on the idea of Amadou Onana joining Arsenal.
The Belgian midfielder has been linked to the Gunners previously, and again in the January transfer window.
Asked about the latest rumours, the Toffees boss said: "He’s been heavily linked before I was here and after. It’s just another story.
"He’s an Everton player, so any decision that we make on players, it will be us that decide."
Credit: GettyTottenham backed to finish above Arsenal
Gary Neville thinks that Tottenham could finish above Arsenal this season despite initially tipping the Gunners to win the Premier League.
Mikel Arteta's men are enduring a little slump but are still well in the title race.
However, Spurs are now level on points with their north London rivals and are going to welcome James Maddison and Heung-min Son back in the coming weeks.
And Neville is a big fan of Spurs.
Speaking to Sky Sports, he said: "If they keep their players fit, they are a certainty to finish in the top four and I think they can get to second and third.
"With those players back, and if they can get through these next few weeks, I genuinely think they can be better than Arsenal and Liverpool this season."
Toney no go
Thomas Frank has one again insisted that he doesn't want to sell Ivan Toney in this transfer window.
The England striker is finally set to return from his ban due to illegal betting and has long been linked with a move to Arsenal.
However, it's unlikely the Gunners can afford him this month.
And with the Bees struggling, Frank is in no mood to sell him.
Speaking ahead of Brentord's replay with Wolves, he said: "It’ll be great to get him involved.
"I think it’s very clear, I don’t want to let him go. I want to keep him as long as possible and I only have that in mind.
"My only focus is getting him ready for Nottingham Forest."
Smith Row on Villa's radar
talkSPORT's Alex Crook has told GIVEMESPORT that Aston Villa are interested in signing Emile Smith Rowe.
The England international has struggled for first-team minutes this season, with Mikel Arteta preferring other options.
Smith Rowe is versatile and has been monitored by many clubs, and the Gunners could see Villa's interest as a chance to make a huge amount of profit.
Financial Fair Play constraints are keeping Arsenal's spending limited this month, meaning potential sales in the summer are already being looked at.
Speaking about Arsenal's financial situation, Crook said: "Arsenal might have to move a couple of players out to get players in.
"There’s interest in Mohamed Elneny from Turkey and Saudi Arabia, and they’d cash in on Thomas Partey if they could, given his injury record and the fact he’s on good wages.
"I'm keen to see what they do with Smith Rowe because I think Aston Villa’s interest is still there.
"We know that Arsenal like Douglas Luiz, but Villa aren’t going to let him go at this moment in time because they’re competing for the top four themselves."
Lokonga looking good
Amid Arsenal's Financial Fair Play concerns, they are likely to be looking at who can be sold for good money, while not reducing the quality of Mikel Arteta's squad.
And one man who falls into that category is Albert Sambi Lokonga.
The Belgian midfielder is currently on loan at Luton Town and is starting to impress.
An injury suffered earlier in the season stopped Lokonga's progress, but he has started the Hatters' last four Premier League games and is proving to be good value on and off the ball.
Unfortunately, it's hard to see how he gets into that Arsenal midfield, so a summer sale might raise some much-needed funds and ensure the Gunners can keep their best players.