Transfer speculation is gaining even more momentum for Arsenal, as the club appears to be on the cusp of making some major deals.

According to Daily Telegraph, Arsenal have upped their bid from £10 million to £15 million for central defender Phil Jagielka. Everton recently rejected a bid from Arsenal, expecting an offer closer to £20 million.

Arsenal also gave Barcelona a Sunday ultimatum to meet their £40 million price for Cesc Fabregas, or otherwise break off talks for the midfielder.

Barcelona have gone as low as £33 million, but have previously offered young midfielder Thiago Alcantara in a deal for Fabregas. It will be interesting to see if Alcantara can be made part of a deal for Fabregas should Arsenal accept less than £40 million. In June, Daily Mirror reported that Arsenal was offered Alcantara in a £50 million swap deal for Fabregas, which now appears to be a far-fetched proposal.

The potential Fabregas and Jagielka moves comes in correlation to other reports that Arsenal are nearing a £19 million deal for Valencia midfielder Juan Mata. The Sun reported that Mata had told friends he was about to be signed by Arsenal, and Daily Mirror reported that Mata was in London with his family and friends with a possible deal in place, while The Independent wrote that Arsenal feared Manchester City may hijack the "seemingly done deal."

Should Fabregas move on to Barcelona, Arsene Wenger might be adding Jagielka, Mata, and Alcantara, thus strengthening the depth of the club.

The Gunners may have even more money to play with if reports are accurate that Nicklas Bendtner is on the move for roughly £9 million to either Sporting Lisbon, Hamburg, or Borussia Dortmund, along with multiple Premier League clubs.

Emmanuel Eboue might also be on his way out of Emirates with reports that Turkish club Galatasaray have offered £4 million.