Arsenal have reportedly tabled a £24.5 million bid for Fiorentina forward Stevan Jovetić.
Arsène Wenger has long admired the Monetenegro international, who scored 13 goals in 31 appearances for the Viola last season.
The 23-year-old's agent, Fali Ramadani, is reportedly in London to finalise a deal after the Gunners triggered Jovetić's release clause.
Serie A champions Juventus are also interested in Jovetić and could hijack Arsenal's efforts to bolster their attack, however it is unclear whether Juve will match the Gunners' offer.
Should Wenger buy Jovetić it will appease Arsenal fans disenchanted with the club's miserliness in the transfer market since the 2006 move to the Emirates Stadium.
The Gunners' time at Ashburton Grove has been trophyless and Wenger will bid to stop the drought extending to 10 years in the 2013-14 campaign.
Jovetić could earn £70,000 a week at Arsenal, whose new additions fared respectably in their debut campaigns.
Olivier Giroud and Lukas Podolski scored 17 and 16 goals apiece, however they only earned Arsenal seven points in the Barclays Premier League combined.
Theo Walcott, who finally signed a new contract in January, top scored with 21 as he impressed in the striker's role, and Jovetić may have been identified as a foil for the England international.
Wenger also confirmed last week Arsenal were in "advanced talks" to sign Auxerre striker Yaya Sanogo.