Though Arsenal failed to pursue talent in the January transfer window that would have strengthened the club immediately, the British Press has reported on some recent activity from the club for the summer.
It's unclear if Arsene Wenger showed interested in the following players in January and decided to hold off until the summer, or if the Arsenal boss was never interested in the player for a January move.
The Times reported that Arsenal inquired about Javi Garcia of Benfica. The 24-year-old Spanish defensive midfielder has also been targeted by global heavyweights Manchester United and A.C. Milan, according to October reports.
Garcia, who is a product of Real Madrid's youth system, has a valuation of roughly £10 million, which puts him within Arsenal's price range.
Should Arsenal lose interest in Garcia, they could turn their attention to Claudio Yacob of Argentina's Racing Club. Like Garcia, Yacob is a 24-year-old defensive midfielder. The Daily Mirror linked Yacob to the Gunners, but it's unclear what the bid would be for the Argentine.
Yacob had 20 appearances for Argentina's Under-20 club, and has three caps for the national team.
The Sun, admittedly not the most reliable of sources, has linked Olivier Giroud to Emirates. A 6'3 striker for Montpellier, Giroud has 26 goals in 56 appearances for the club and is considered to be in solid form this season. The 25-year-old also has two caps with France.
While Arsenal will be looking to add players in the summer, they may also look to send Andrei Arshavin to a Russian club. The veteran winger was linked to Anzhi Makhachkala by The Express. The transfer window remains open until Feb. 24, and Zenit St. Petersburg have also shown interest in Arshavin.
Meanwhile, Daily Mirror reported that Barcelona are interested in Arshavin for a summer move, but that seems a little far-fetched. The Catalans are rather loaded in their attack, and it seems unlikely that they would covet a player who has been out of form.
The big question going into the off-season will be if Wenger pursues Mario Gotze and Lukas Podolski. Both players have been on Arsenal's radar for quite some time, and the Gunners have the funds to add both players. With Robin van Persie still without a contract extension, Podolski might be an excellent insurance policy if the Gunners are forced to move their star striker.
However, adding either Podolski or Gotze could be contingent on whether Arsenal play in the 2012-2013 Champions League. Arsenal currently would not qualify for a spot.