Arsenal were forced to sell Emiliano Martinez to Aston Villa to raise £20million last summer, so they could go into the market for a solid No 2.
Bernd Leno is expected to keep the No 1 jersey but Arteta may look to bring in reinforcements.
Mat Ryan was drafted in from Brighton to provide emergency cover but he is not seen as the long-term solution.
Edu could try to work his magic with Premier League rivals Manchester United, have have a plethora of options between the sticks.
David de Gea and Dean Henderson are battling it out for a starting spot at Old Trafford, leaving World Cup finalist Sergio Romero out in the cold.
The Argentine would make for a brilliant addition and would probably cost much less than other options as he is out of contract this summer.
Right-back is likely to be a problem position for the Gunners with Hector Bellerin expected to leave the Emirates Stadium amid Barcelona and Paris Saint-Germain interested.
Reports in Spain suggest Mikel Arteta is looking at Real Betis defender Emerson Royal, who could be available for just £10m.
The 22-year-old Brazilian has been in impressive form this season, helping Betis to sixth in the La Liga table.
Doubts have been raised over Pierre-Emerick Aubameyang and Alexandre Lacazette’s futures so Arsenal may need a new striker this summer.
Manchester City’s club-record goalscorer Sergio Aguero is set to leave the Etihad Stadium when his contract expires.
Arteta worked with the Argentine when he was assistant to Pep Guardiola so the pair already have a strong relationship.
Augero does not want to leave England and is seeking a move to a Premier League club.