There are reports that Arsenal could be hit with a double blow with Juventus said to be closing in on Gunners target Fernando Llorente and also preparing an offer for unsettled winger Theo Walcott.

Arsenal were thought to be targeting Spain international Llorente, with the striker’s contract at Athletic Bilbao set to expire next summer. Juventus, who were linked to the 27-year-old in the summer appear frontrunners for his signature, though, and are ready to offer a contract of £145,000 a week, according to the Daily Mirror.

Given Arsenal’s strict wage structure, that is likely to put the player out of the Gunners’ reach.

The Italian champions may also be prepared to put together a stronger financial package for Walcott than Arsenal are prepared to offer the England international. Walcott, whose contract is set to expire next summer, has already reportedly turned down an offer of £75,000 a week from the Gunners.

With the 23-year-old able to negotiate a pre-contract agreement form January, his future at the Emirates appears increasingly uncertain.  

Walcott has also been linked to the likes of Liverpool and Manchester City, and Arsenal could yet try to recoup a fee for the former Southampton man in the January transfer window.

Arsenal may have received a boost, though, with the news that reported target Victor Wanyama has turned down an offer of a new contract at Celtic. The imposing Kenyan midfielder has been an impressive presence for the Scottish champions since arriving from Belgian side Beerschot in the summer of 2011 and has been linked with a host of clubs, including the Gunners and Manchester United.

While Wanyama has previously stated his desire to remain at Celtic, and is said to have turned down a move to an unnamed English side in the summer, he is said to be unhappy with the club’s offer to extend his deal past 2015.

“Victor informed Celtic the contract offer fell short of his expectations,” Wanyama’s agent Rob Moore told Scottish broadcaster STV.

"There were a number of aspects that fell short—he turned it down."

While the news could well provoke renewed interest in the 21-year-old, Celtic boss Neil Lennon has said that the player will not be leaving on the cheap.

"£25m," Lennon stated when asked what he believed Wanyama was worth. "Wanyama has the world at his feet.

"But his feet are here and they won't be going anywhere unless we say so."

Arsenal are also said to one of a number of clubs interested in teenage PSV Eindhoven defender Riechedly Bazoer.

The 16-year-old is also believed to be on the radars of Manchester City and Newcastle and, with Bazoer yet to agree to PSV’s offer of a professional contract, the club are concerned he may leave for greater financial reward in the Premier League.

“We have offered him a professional contract now he has turned 16,” PSV sporting director Marcel Brands said, according to the Daily Mirror. “I speak with the family, the boy and his agents. We hope we will get an answer soon.

“What is his intention? Is it to develop or go for bigger money in England? You have to ask him and his agent which clubs are interested in him. I don't know and it doesn't matter.

“It is his choice and the agent will do their best for the player. The only thing we can do is offer him good possibilities in terms of coaching and prospects.”