Arsenal manager Unai Emery says that Arsenal are trying to capture the signatures of some 'very big, very expensive players' before the transfer window closes next month.
The Spaniard insists that despite seeing bids rejected for Celtic full-back Kieran Tierney and Crystal Palace wide man Wilfried Zaha, the Gunners are targeting signing "three or four players who will really improve [their] squad right now".
"We have very good players and very good young players who can progress to take and get big performances with us. Other players can come here to help us," said the 47-year-old.
"We are being very, very demanding and we are first speaking about the possibility to sign very big, very expensive players."
Thus far, Arsenal's only summer signing has been 18-year-old Gabrielle Martinelli - a Brazilian striker signed from Ituano. The teenage forward scored on his debut in the Gunners 3-0 win over MLS outfit Colorado Rapids on Tuesday, and will provide back-up for both Alexandre Lacazette and Pierre-Emerick Aubameyang this season.
The north Londoners are also rumoured to be interested in highly-rated Saint-Etienne defender William Saba, with increasing uncertainty surrounding the future of current centre-half Laurent Koscielny. Rivals Tottenham are also keen on the 18-year-old Frenchman.
With Arsenal missing out on Champions League football for a third consecutive year last term, their current transfer budget is as low as £40m.
It's no secret that Crystal Palace winger Wilfried Zaha is their main transfer target this summer, but with them offering just £40m for the Ivory Coast international - who has been valued at at least double that by his current employers - a move for the 26-year-old seems unlikely unless they offload one of their bigger stars.
Speaking to Sky Sports, Palace manager Roy Hodgson said that Arsenal are yet to submit a significant offer for Zaha.
"I don't think Arsenal have actually made a bid that has come anywhere near our valuation," said the former England boss.
"I'm sure the player realises that if someone's going to take him away from us, he'll expect clubs to pay the market value. Until someone does that, there's not much to discuss regarding Wilf."
The Gunners' move for Celtic left-back Kieran Tierney also looks to have fallen through, after the Scottish champions rejected a second bid - thought to be worth £25m - for their prized asset.
Bhoys manager Neil Lennon said that Celtic wouldn't be "pushed over in any negotiations" for the 22-year-old, and that the "club's valuation of Kieran has not been met" by Arsenal, therefore a move for the Scotland international is currently out of the question.