All the latest Arsenal transfer news and rumours from across the British and foreign press on Thursday, June 1.
Alexis Sanchez and Mesut Ozil have joined forces to try and get £350,000-per-week deals out of Arsenal this summer, according to the Mirror.
Both players are entering the final year of their contract and have been linked with moves away after the Gunners failed to qualify for the Champions League.
One man that could replace the pair is Leicester star Riyad Mahrez, who declared his intention to leave the club earlier this week.
Arsenal are one of the leading sides reported to be chasing the £50m-rated Algerian, according to the Daily Express.
And the Daily Mail reports that Arsene Wenger will only target elite signings as he attempts to bring the Premier League title back to the club for the first time since 2004.
"We will work very hard to find the additions of top, top quality players. I believe that our squad is very strong and we will only look for top-class people who can strengthen us," he said.