ARSENAL TRANSFER RUMOURS: Dempsey, Vertonghen, Ba, Cabaye, Hoilett Involved In Latest Speculation

But it is clear the side currently clinging onto third place in the Premier League will be trying to put several deals in place as manager Arsene Wenger looks to build a squad capable of challenging for the Gunners' first league title since 2004.

One player who looks to be on Wenger's radar is Fulham's Clint Dempsey. The U.S. international has had a career-best season for the Cottagers, scoring 17 Premier League goals. According to the Sun, Wenger sees Dempsey as a man to link-up with Robin van Persie and new signing Lukas Podolski next season.

The 29-year-old would add versatility to the squad with his ability to play on the left, behind a central striker or as the main man up front. He may also be available for a reasonable price with Dempsey's contract at Fulham due to expire at the end of next season.

If a deal for the Texas-native fails to materialize then Arsenal may move for another long-standing target Junior Hoilett, according to the Sun's report.

The Blackburn star, who can operate in a variety of attacking positions, is likely to leave Ewood Park, even if the club performs a miraculous escape from relegation.

Another reported target to improve Arsenal's attacking options next season is Newcastle striker Demba Ba. Metro quote a story from Caught Offside stating that Arsenal are taking a hard look at the Senegalese hit-man who reportedly has a clause in his contract allowing him to depart for a cut-price fee.

And, if the story is to believed, Arsenal may be looking for a double swoop from a Newcastle side that has so impressed this season. Midfielder Yohan Cabaye is also on the agenda at the Emirates, according to the report.

A deal for Cabaye would make sense given the struggles that Arsenal have had since Mikel Arteta suffered a season-ending injury. The French international would likely cost two or three times more than the £5 million the Magpies paid for him last summer, however.

Arsenal may have to act quickly if they want to secure one of their other mooted targets, Jan Vertonghen. De Telegraaf reports that Tottenham have opened talks over the transfer of the Ajax center-back, according to Goal.com.

The story claims that a €8.5 million deal is being discussed for the Belgian international, who has just over a year remaining on his contract at the Amsterdam Arena.

With Vertonghen sure to want guaranteed first-team soccer, it may be that the 25-year-old chooses to join Arsenal's North London rivals, with Thomas Vermaelen and Laurent Koscielny showing signs of forming an excellent partnership at the heart of the Gunner's defense this season.