Mikel Arteta has a four-man January transfer shortlist as Arsenal budget revealed

Arsenal manager Mikel Arteta has a four-man transfer shortlist after learning his January budget, it has been reported.

The Gunners spent big during the summer window, signing Declan Rice, Kai Havertz and Jurrien Timber for fees in excess of £200 million.

Arsenal have started the current campaign well and are unbeaten after eight games in the Premier League, although did lose 2-1 to Lens in the Champions League earlier this month.

Despite having spent large amounts in the summer, though, Arsenal are reportedly ready to push on in the January window as they look to secure their first Premier League title since 2004.

And Arteta reportedly has four players he would like to bring to the club.

Arsenal 'have four-man January transfer shortlist'

According to the Daily Mirror, Brentford striker Ivan Toney is believed to be the team's prime target as Arteta looks to add a new striker to his ranks.

Toney is currently serving a eight-month ban from football for breaching betting regulations, but will return to action in January and can therefore play a part in the second half of the campaign.

And the Gunners are also searching for a backup to Bukayo Saka on the right side of attack.

They have been linked with Wolves star Pedro Neto and RB Leipzig's Dani Olmo, with Neto a player that the Gunners scouted when Arsene Wenger was in charge.

According to ESPN, Olmo's release clause is set at between €60 and €65 million - which may prove a stumbling block for the Gunners.

That is because, as per The Athletic, funds are said to be relatively scarce - and players would need to be sold in order for Arteta to fund all the moves he wants to complete.

Arsenal are also monitoring PSG forward Ousmane Dembele, who is the fourth and final player on the shortlist, although he may be difficult to prize away from Parc des Princes as he only signed for the French club in the summer.

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