Now, according to the Sun, the North London giants are leading the chase to land Borussia Dortmund midfielder Henrikh Mkhitaryan this summer.
The Armenian playmaker has just a year to run on his deal with the Bundesliga giants and recently admitted he was assessing his options going forward.
Having scored 21 goals and added a further 20 assists across all competitions this season, the 27-year old has emerged as one of the hottest properties on the market this summer.
The former Shakhtar Donestsk man is undoubtedly one of the most creative players in European football and the notion of him lining up alongside Mesut Ozil and Alexis Sanchez is mouth watering for the punters in this evening.
Chelsea and Tottenham are understood to be interested in him, though the report claims it is the Gunners who are stealing a march on their capital counterparts.
Mkhitaryan is reportedly the latest name they have switched their attentions to as manager Arsene Wenger plots a major overhaul.
Does Wenger have any hope at all of fending off the Manchester clubs in the race for the title?
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