Arsenal boss Mikel Arteta will work with a bumper summer transfer budget at the end of the season.
Arsenal are close to appointing Atletico Madrid's former sporting director Andrea Berta.
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And Give Me Sport says Arteta and Berta will have a budget of at least £300m to work with.
Arsenal want to sign a goalkeeper, a left-back, a defensive midfielder, a left winger, a striker and a backup for Bukayo Saka.
In addition, Arsenal can bolster the squad with another all-round midfielder.
Real Sociedad midfielder Martin Zubimendi, Athletic Bilbao winger Nico Williams, Espanyol goalkeeper Joan Garcia and Newcastle duo Bruno Guimarães and Alexander Isak are some of the players on Arsenal's radar.
RB Leipzig striker Benjamin Sesko and Wolves striker Matheus Cunha are also said to be on the wish list.