Reports are suggesting that Arsenal are set to spend big in the January transfer window in order to arrest the club’s stuttering form that sees them currently sitting in a lowly eighth place in the Barclays Premier League table.

Gunners boss Arsene Wenger has been notoriously frugal in the transfer market during his tenure and the club almost broke even with their summer dealings as a result of the sales of Robin van Persie and Alex Song. But, with Arsenal currently looking like they will face a struggle to achieve a coveted spot in the Champions League next season, Wenger could splash the cash, according to the Daily Mail.

Wenger is believed to be particularly eager to boost his attacking options, with Manchester City’s Edin Dzeko and Crystal Palace hotshot Wilfried Zaha reported as leading targets.

Dzeko, 26, was linked with a move to the Emirates in the summer and with the Bosnian failing to hold down a regular starting berth at City he could be tempted with a January move. Despite his lack of opportunities from the start, Dzeko has still registered an impressive six goals in the Premier League so far this season.

The former Wolfsburg striker arrived at City for a fee of £27 million back in January of 2011. It would seem highly likely that the Premier League champions would have to take a loss on the player if he were to depart at this stage.

Arsenal have been linked with the exciting Zaha for several weeks now, with the recently-turned 20-year-old seen as a potential replacement for the unsettled Theo Walcott. Zaha’s impressive form for Championship side Palace has just been rewarded with a call up to a full England squad for the first time.

According to the Mail, Arsenal will bid £9 million for the player whom Palace co-chairman Steve Parish has said he values at £20 million.

The Gunners are linked with an even more ambitious deal, with reports over the weekend claiming that the club was prepared to offer £30 million for Napoli’ Edinson Cavani. Given that the prolific Uruguayan signed a new contract with the Italian club in the summer in the wake of reported interest from Manchester City, it is likely that not even a bid of that value would be sufficient.

ESPN sources are of a similar opinion and claim that a bid of nearer €50 million (£40.1m) will be required. According to ESPN’s report, Cavani was watched by Arsenal scouts during Napoli’s Europa League match with Dnipro Dnipropetrovsk last week, in which the former Palermo man scored all four of his side’s goals.

While attack is thought to be the priority for Wenger, the Daily Mail also reports that the Frenchman is keen to sign a goalkeeper to provide competition for, or even potentially replace, Wojciech Szczesny.

The two names linked to the Gunners are Liverpool’s Pepe Reina and Swansea’s Michel Vorm. Both have been mentioned as previous targets for Arsenal. A move for Reina would perhaps be surprising given the Spaniard’s recent inconsistent form, while Vorm signed a new four-year-contract with Swansea in September.