The Arsenal boss has confirmed, according to SFR Sport via the Daily Express, that he wants to sign Germany defender Shkodran Mustafi.
But the Daily Mirror say the Valencia man could set the Gunners back by a whopping £50m.
Elsewhere, the Daily Telegraph reports that Manchester City will allow goalkeeper Joe Hart to leave, having agreed to sign Claudio Bravo from Barcelona.
The deal for the 33-year-old is said to be worth up to £17m.
The Liverpool Echo say Everton want to land Hart, but could be held up by a chain of goalkeeper transfers, with Barca keen to secure Ajax stopper Jasper Cillessen.
Sky Sports report that the Toffees are in talks with Porto over 26-year-old Algerian forward Yacine Brahimi.
And in the Guardian, Jurgen Klopp says panic buying would make him an ‘idiot’ after Liverpool’s defeat at newly promoted Burnley.
According to Press Association reporter Sean Taylor, Barnsley have made an improved offer for Chesterfield winger Gboly Ariyibi.
The Spireites are said to have slapped a £3m asking price on the American-born youngster, but with his contract due to expire next summer it seems unlikely they’ll receive that much.