Arsenal may already conceded defeat in their efforts to keep Cesc Fabregas from the grips of Barcelona, given rumours that they have already spent over £20m in the past week.
Recent speculation coming out of Spain is that Barcelona will pay £30m to land Fabregas, while also throwing in star prospects Bojan Krkic and Thiago Alcantara as part of the deal.
Arsenal have already bought Charlton youngster Carl Jenkinson in the past week and have now apparently won the races to sign both Alex Oxlade-Chamberlain and Gervinho.
Despite only having broken into the Southampton first team this season, Oxlade-Chamberlain has caught the attention of numerous Premier League clubs.
Liverpool and Manchester United have also be linked with the 17-year-old winger, but Arsenal’s track record of bringing through youngsters seems to have been the critical factor in the final decision.
Theo Walcott has already made the successful transition from Southampton to Arsenal, while Jack Wilshere and Aaron Ramsey are other young talents to have taken their chance in the first team.
According to the Daily Mirror, Arsenal have agreed a fee of £12m for Oxlade-Chamberlain.
Meanwhile, Arsenal have also been busy negotiating with Lille as they have beaten off Liverpool again and Newcastle to sign Ivory Coast striker Gervinho for £10m.
Gervinho scored 14 goals for Lille last season to help them to the French title and his ability to play as a central striker or in a wide position will be valuable to the Gunners as they look to improve on their fourth-place finish in the Premier League last season.
Arsenal’s odds are 7/1 to win the Premier League next season, while it is 4/7 that they finish in the top four again.
Further transfers are also expected at Arsenal in the coming weeks, with Christopher Samba and Gary Cahill at the top of the shortlist to add some additional defensive depth to their squad.