Sign up to FREE email alerts from Mirror - Arsenal FC Subscribe Thank you for subscribing We have more newsletters Show me See our privacy notice Invalid Email

Arsenal's season continues to go from strength to strength - as they secured progression to the FA Cup fourth round over the weekend by defeating North London rivals Tottenham.

However, the win was somewhat overshadowed by an injury to Theo Walcott and with the England man set to face at least a month on the sidelines , boss Arsene Wenger may look to boost his squad in the transfer window.

Here's our guide to all the latest news and rumours from Monday's papers and across the web

Monday's Arsenal transfer gossip and rumours from other newspapers and websites

Arsene Wenger may well reignite his interest in Lyon midfielder Clement Grenier this month, having reportedly failed with a bid last summer.

The 22-year-old was linked with a switch to the Emirates but the deal fell through, however Wenger is now preparing to go back in for his countryman, according to Tutto Mercato Web .

Lyon are thought to be willing to listen to offers in the region of €12-15m, with Gunners scout Gilles Grimandi keeping a close eye on Grenier.

He has scored three times for the Ligue 1 side this season and while he remains committed to the cause, a move to one of European football's elite would interest him.

Bayern Munich striker Mario Mandzukic also continues to be linked with a switch to the Emirates as his position with the Bundesliga and Champions League holders comes under threat.

(Image: Lars Baron)

Borussia Dortmund's Robert Lewandowski will move to the Allianz Arena at the end of the season, with reports suggesting Mandzukic will be the one to make way.

And while Bayern chairman Karl-Heinz Rummenigge insists the Croat is going nowhere, Arsenal and Manchester United are now monitoring the situation, according to the Express.

Mandzukic has scored 12 times in 21 games this season but his long-term future now appears under threat - especially with boss Pep Guardiola favouring a formation which includes just one striker.

Another man who could be on his way to the Emirates is Schalke youngster Julian Draxler - although me may have to wait until the summer.

The 20-year-old has been linked with the Gunners in the past, although he has previously stated his desire to remain with the Bundesliga club until the end of the season.

Draxler has a €45m clause in his current contract and according to German pundit Jan Aage Fjortoft, the Premier League leaders are in pole position to sign him next summer.

He is recently reported to have received a tour of the Arsenal training ground and the current German contingent in the Gunners' squad could convince him to move.

Meanwhile, AC Milan's Stephan El Shaarawy is the latest name to be linked with a switch to the Premier League leaders.

The Italy international is thought to have caught the attention of Wenger and the Gunners are now ready to make a cut-price offer for his services, according to Forza Italia.

Milan currently sit in 13th in Serie A and El Shaaraway - who has only scored once in all competitions this season - could be sold to boost their options elsewhere.

However, the 21-year-old is currently sidelined, which could impact any potential switch to North London.

Elsewhere, Derby County have confirmed midfielder and reported Arsenal target Will Hughes is going nowhere.

The England Under-21 man has attracted the interest of the Gunners, Liverpool and Manchester United but the Championship high-flyers will not be cashing in, according to the Daily Star.

The Rams' chief executive Sam Rush insists there is no requirement to sell Hughes and maintains he will not be leaving Pride Park this month.

He said: "Will is best placed in Derby. There is a huge amount for him to achieve here and I don't feel commercially it is the right time for us to entertain any other discussions."

German winger Serge Gnabry deservedly received the plaudits for his performance in the weekend win over Spurs, as he continue to impress in his debut senior campaign.

Mikel Arteta has claimed the youngster can be Arsenal's secret weapon during their pursuit of the Premier League title, but blog site JustArsenal.com questions whether Gnabry should be allowed to depart on loan.

With Lukas Podolski having returned from injury, alongside the imminent comeback of Alex Oxlade-Chamberlain, the 18-year-old could find his opportunities limited this season.

Germany coach Joachim Low has revealed his admiration for Gnabry - insisting he could be an outsider for his World Cup squad - and a loan deal to a fellow Premier League side could suit all parties.

Click here to keep up-to-date with all the Arsenal transfer news throughout the window.