Arsenal have agreed a $20 million fee with Montpellier for France striker Olivier Giroud, according to several reports.
Wenger is a big fan of the heavily-built striker who was Montpellier's and the French League's top scorer last season with 21 goals, leading his club to a shock league title.
Giroud, who reportedly has a $19.5 million release clause in his contract, is currently with the French squad in Poland and Ukraine for Euro 2012, but it is understood the striker is keen on a move to the Emirates.
According to both Al Jazeera and RMC Sport, the fee for the striker has been already agreed, with Marouane Chamakh expected to go the other way.
Arsenal will hold discussions with Giroud's representatives in the next couple of days to finalise the move.
Wenger is also keen on Russian star Alan Dzagoev, says the Sunday Express. The midfielder made a brilliant start to Euro 2012, with a double against the Czech Republic and now looks primed for a move to one of the bigger clubs in Europe. The 21-year-old also has only six months remaining on his contract, meaning the transfer fee should not be a problem for Arsenal.
However, it is understood, Chelsea are also interested in signing the CSKA Moscow man.
Several reports in Italy suggest Juventus are turning their attention towards Edinson Cavani after being put off by Robin Van Persie's wage demands. Juve are ready to offer Arsenal over $30 million for the 29-year-old striker, who has just one year remaining on his contract, but the Italian champions are not willing to pay the striker more than $230,000 per week as wages. It is understood, Van Persie is demanding nearly $300,000 per week, on par with what Manchester City are ready to offer. Juventus are also reportedly monitoring Nicklas Bendtner, who has admitted his future lies outside Arsenal.
Meanwhile, Arsenal chairman Peter Hill-Wood suggested Van Persie could leave Arsenal, if someone came in with a big pay deal.
"He is vital to us and has been an extremely good captain," Hill-Wood told the Sunday Mirror.
"But if somebody comes along and offers Robin £250,000 a week ($388,000) then I am afraid we cannot compete with that. With players, you never know what they are going to do.
"Some players say they want silverware but when they have the chance to earn extraordinary money that has been pumped into the game, then you just have to hope they will stay because they are happy and loyal where they are. There are players like Ryan Giggs and Paul Scholes at Manchester United who have been loyal to one club but players like that are few and far between.
"Hopefully we can reach agreement with Robin and ideally he will extend his contract.
Hill-Wood also admitted there would be more signings in the summer. "We have already brought in one new player in Lukas Podolski and I believe we will bring in more. I am confident we will, in fact.
"I just hope that Robin will be with us next season because I genuinely feel we can make a real challenge for the Premier League title."
