Arsenal transfer news: Thiago Alcantara targeted after Gabriel Magalhaes deal finalised as Rob Holding nears exit

Arsenal are closing in on the transfer of Gabriel Magalhaes from Lille, but that will not be all for Mikel Arteta this summer it seems.

The Gunners are currently overhauling the club from top to bottom after the departure of Raul Sanllehi, empowering their Spanish head coach in less than a year since his arrival.

And while Gabriel is a key piece, the Gunners could yet land another elite talent if speculation is to be believed.

Retaining one of their only existing world class players is also critical to maintaining Arteta’s early momentum, as contract talks continue with Pierre-Emerick Aubameyang.

Here are the latest transfer stories for the Gunners ahead of the new season.

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Arsenal have joined the race to sign Bayern Munich star Thiago Alcantara.

The £23m asking price could prove problematic, report the Mail, with top end wages thrown in for the 29-year-old.

Liverpool remain keen too, with the Spain midfielder able to discuss a free transfer from January.

Leeds are targeting Arsenal’s Rob Holding, according to the Mail.

Marcelo Bielsa is concentrating on defensive upgrades, with Freiburg’s Robin Koch, Brighton’s Ben White and Holding all being considered.

The 24-year-old has three years left on his deal at the Emirates.

Arsenal have joined Barcelona and Chelsea in the race for 21-year-old Malang Sarr.

Now a free agent after leaving Nice, Mikel Arteta is eager to bring the French defender to the Emirates.

It’s possible he could be loaned out immediately though, as would be the case if Chelsea secure his signature, with his development requiring game time.

Houssem Aouar is thought to prefer a move to Juventus if he leaves Lyon this summer, report Le 10 Sport.

After inspiring OL to the Champions League semi-finals, the 22-year-old looks destined for a €50m (£45m) move.

In addition to the Gunners, Manchester City, Real Madrid and Paris Saint-Germain are also chasing Aouar with the Old Lady.

Arsenal are on the brink of signing Lille centre-back Gabriel Magalhaes and hope to complete the €30m (£27m) deal early next week, with Mikel Arteta making a timely phone call to remove any doubt in the player’s head.

Corriere dello Sport report Arteta outlined a detailed plan for Gabriel and his future at the Emirates.

Manchester United have now stalled over their renewed interest in the Brazilian too.

United had contacted Magalhaes’ representatives late last week, just as Arsenal had grown increasingly confident of winning the race for the defender, provoking a further delay to the saga as talks continued between Magalhaes’ camp and both clubs.

However, The Independent understands that, while United continue to ask Gabriel’s camp to delay his decision, they are still yet to lodge an official bid with Lille and are now set to miss out on the 22-year-old.

Arsenal have agreed a five-year deal with Magalhaes and – barring another unforeseen late twist – the Brazil U20 international will become Arsenal’s fourth signing at centre-back in the past two years.