The likes of Sami Khedira and William Carvalho have been linked with the club, but if Wenger wants somebody who will not need time to adapt to the league and will be available at a snip, here are six Premier League targets he could consider.
Arsenal have been heavily criticised in recent years and there is much debate as to why they continually fail to win the Premier League title or shoot themselves in the foot during key matches. However, critics are far too harsh towards the Gunners and here are five reasons why they should change their tune.
Whilst other clubs may feel they can never replicate the 'Invincibles', the real problem for Arsenal is that they cannot hope to either, with the past heroics of remaining undefeated now more of a hindrance than an inspiration.
As with any break, mangers and coaches have had the chance to regroup and plan the squad's development for the coming months. Improvement is the obvious aim for all the clubs, but for some teams the improvement will need to be far more dramatic than others.
It is this sort of patience and uncertainty that precludes the restless and impatient, and because of these things, constantly successful Mourinho from being anywhere near the right fit for the Arsenal model. For a club that continues to model itself on actualizing potential, Wenger is still the right man.
To bring out the best in a player of Özil's quality, a manager must build a team around him. Wenger strived to do this last season with 24 of his 25 league starts coming in the number 10 role. It's understandable why the Frenchman would do this, with the attacker widely regarded as one of the most creative players in world football.
Welbeck will get goals for Arsenal and it won't take him very long to find his shooting boots. £16 million what a bargain! Exciting times for Arsenal fans, if Arsenal are in a similar position to where they were last season come January and they actually decide to buy that strong holding midfielder everyone has been talking about then the title challenge is well and truly on.
Arsenal fans need to start considering what sort of football club they want to be. Wenger will forever be enshrined in their proud history, but is he the man to take them forward? His careful stewardship has seen The Gunners enjoy many incredible times. However, just one solitary FA Cup win since 2005 tells its own story.
It's true that hasty decisions and unreasonable sackings are ruining football, but surely Wenger's time was up a long time ago and winning the FA Cup final against Hull proves nothing about Wenger's suitability as Arsenal manager.
If Wenger won't spend the money on a player like Suarez who is arguably the best attacker in the world right now; how can we trust him to buy any players for next season? I doubt he will. In fact i'm certain he won't. He will point to this FA Cup victory and use that as another shield not to spend any money citing the players we have now are good enough.
Every new Premier League season gives rise to its own heroes and villains as the media is constantly watching every move in minute detail. As such, players and managers alike can either enhance or completely destroy their hard-earned reputations in a matter of months.
"Arsene Wenger will not be a difficult act to follow - he will be an impossible act to follow." Those are the words of former Arsenal vice-chairman David Dein, who spoke to Sportsweek earlier this week. He could well be right.
Averaging a successful dribble every 25.9 minutes, Oxlade ranks in the top 10 in the Premier League this season, and third amongst English players, though he has significantly more to offer in terms of final ball than either of the two players above him, Andros Townsend and Wilfried Zaha.
No whinging, no agent flyers in the press... and no recent late night parties with model and TV-presenter girlfriend Polly Parsons. Throughout a difficult season, Thomas Vermaelen has been the consummate professional.
The development of the Premier League into a massive international brand means that there are astronomical amounts of money to be made. Unfortunately, those who own football clubs are usually out to make a quick buck and in many cases do not possess the know-how to run a successful club...
Since Theo's season-killing injury, Arsenal have at times looked one-paced and bereft of defence-splitting ideas - with Mesut Ozil taking the brunt of the many Twitter rants or radio phone-in tantrums.