Arsenal spent almost £150million on new recruits during the last transfer window.
But the club are reportedly set to let Alexandre Lacazette go, leaving them short in experienced attacking options.
Manager Mikel Arteta is known as a meticulous planner and wants to be ready for Lacazette's departure.
TOP STORY – GUNNERS SET SIGHTS ON DCL AND WATKINS
Arsenal have Everton's Dominic Calvert-Lewin and Aston Villa's Ollie Watkins in their sights as they plan for Lacazette's exit, so say The Sun.
Lacazette is in the final year of his contract and the Gunners are unlikely to offer him a new deal, meaning he will depart either in January or at the end of the season as a free agent.
Arteta wants back-up to Pierre-Emerick Aubameyang and has the England forwards on the club's shortlist.
– Cash-strapped Barcelona have €16m to spend in the January transfer window according to Mundo Deportivo, with the publication also claiming Manchester City winger Raheem Sterling is among their top targets, potentially on loan given their financial challenges.
– Robert Lewandowski appears to have had a change of heart and will renew his deal with Bayern Munich, reports Fichajes. The star striker had been linked with a move away from the Bundesliga champions.
– MilanNews.it reports that Milan are in negotiations with head coach Stefano Pioli about extending his contract following a bright start to the season.
– Man City are keeping an eye on Barcelona's 19-year-old midfielder Nico Gonzalez, according to Fichajes.