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Arsenal are in need of at least three big names which would include a goalkeeper, a holding midfielder and a striker, and Wenger has been given a £70 million budget by Kroenke to make the signings.

Lukas Podolski and Theo Walcott are earning the most at the club – around £100,000-a-week – but it has been reported that Arsenal will be ready to offer £150,000-a-week to the right player.

Arsenal Chief Executive Ivan Gazidis said: “Mr Kroenke has made it clear that our ultimate objective is to win major trophies. We all share that ambition. Arsene and I have been planning what we need to do.”

It has also been reported that paying high wages could be easier for Arsenal if they off-load a few players in the transfer period this year.

Andrey Arshavin, Johan Djourou, Sebastien Squillaci, Nicklas Bendtner, Marouane Chamakh, Park Chu-young, Denilson and Andre could all leave Arsenal, according to the Daily Mail, and it is also reported that the club will also hear offers for Thomas Vermaelen and Gervinho.

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However, Podolski has no plans of leaving Arsenal as he wishes to ‘honour’ his contract with Gunners. The German joined the club last season, and he has had a fairly good season, scoring 16 goals and providing 10 assists.

Although Podolski is happy in North London, but he told the German paper Bild that he could consider other options if ‘the right move’ was presented.

“There are always offers, I don’t have any influence on that,” he told Bild. “Of course I feel honoured.

“But, the fact is, I have a contract with Arsenal. There’s no reason to leave the club. However, in the football-business a lot of things are conceivable.”

A move does not seem very likely as he has only spent one season at Arsenal. Nevertheless, if Juventus offer a good sum of money, Wenger could consider selling the player to arrange funds for his spending in the transfer period.

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Arsenal had initially bade around £18.6 million, but Madrid want a higher offer of around £22 million for the left-foot striker.

Higuain has struggled to make himself a permanent feature in the Madrid squad, occasionally losing his position to Karim Benzema. A move to Arsenal will be beneficial for the striker as he would get to play more.

Arsenal are also linked to Stevan Jovetic, but Higuain seems to be cheaper than the striker, and Wenger would definitely want to sign a cheaper striker so he could spend on signing a keeper and a holding midfielder.

Arsenal are in desperate need of a striker like Higuain because Arsenal has lacked the aggression upfront since the departure of Robin van Persie.

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Tottenham Hotspur manager Andre Villas-Boas has ruled out Gareth Bale’s departure insisting that the player will stay, even though Spurs will not play in the Champions League next season.

Spurs missed out on a chance to play the Champions League as their North London rivals Arsenal beat Newcastle 1-0.

Although AVB was expecting that his team will play the Champions League next season, but he is not ready to back-down.

He said: “It’s disappointing and we can’t hide from that. We had expectations to go through but what we can learn is 72 points next time round might not be enough.”

Tottenham have never scored 72 points before and this has been a club record.

AVB has also insisted that missing out on the Champions League does not mean that his players will leave, particularly Bale.

He added: “I have told you this a hundred times and I have to say once again [he won't go]. This has been an ongoing question. We have to keep our ambitions high, hold on to our best players.

“For us to make it better in the future we have to hold on to the best.”

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Sagna is expected to leave Arsenal this summer, and it is likely that he will join Paris Saint-Germain in France.

It had been long rumoured that Wenger would be looking for a young defender, but the case does not seem so.

Arsenal are ‘extremely interested’ in signing the right-back, while Juventus are ready to sell him and make some money.

Though the defender is 29 years of age, he is very experienced. He is said to be an established player and his performance in the last few seasons has been impressive as well.

Sagna was a better player before he picked up a long-term injury. Since then, it has been rumoured that Wenger is looking for alternatives and Lichsteiners will be a great addition to the Gunners’ squad.

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