Arsenal have reportedly signalled their intention to sign Dynamo Kiev winger Andriy Yarmolenko. According to Portuguese outlet A Bola, the Ukrainian club have informed the Gunners it will take an offer in the region of £20.5m to prize away their most coveted star. Yarmolenko has netted 13 times this season and clocked an admirable eight assists along the way, further fuelling speculation he could be set for a switch to the Premier League.

Arsene Wenger has already completed one signing this month after completing a deal for Basel midfielder Mohamed Elneny. Striker Olivier Giroud said: “I’ve trained with him and he’s a good player, very talented.”

Stoke v Arsenal - Match preview

Real Madrid’s impending transfer ban could give rise to an audacious bid for Juventus striker Alvaro Morata. The Spanish giants had considered utilising the buy-back clause they installed in his contract when they sold him to last season’s Champions League finalists. With Madrid unable to buy players after this current transfer window, Zinedine Zidane’s men have been forced into rushing or scrapping deals.

The 23-year-old has been a long-term target for the Gunners and, according to the Daily Telegraph, they are finally ready to make their move. Morata scored 15 goals for the Italian outfit last season but has struggled for form this time around.

Morata in action for Juve against Man City

Liverpool are growing increasingly alarmed by the Gunners’ interest in Athletic Bilbao ace Inaki Williams, the Daily Star speculate. Jurgen Klopp is rumoured to be interested in taking the 21-year-old attacking midfielder, ranked the fastest player in La Liga, to Anfield. But Wenger is now said to also be keen on Williams.

The Spaniard currently has a £15m price-tag on his head but the report suggests Bilbao may ask for his full-release clause £76.3m to put off any prospective suitors. Williams has scored ten goals in 21 appearances this season and scored the only goal in a 1-0 Copa del Rey win over Valencia, managed by Gary Neville, last week.

Arsenal: Players linked with transfers Show all 20 1 /20 Arsenal: Players linked with transfers Arsenal: Players linked with transfers <b>Ins:</b>Ben Chilwell (Leicester City) The highly-rated 19-year-old was the subject of a bid from the Gunners in the summer but that was rejected - Arsenal will have to pay a high fee for a player wanted by all the big guns. Seen as a long-term successor to Nacho Monreal. Getty Arsenal: Players linked with transfers Goncalo Guedas (Benfica) He's a Portuguese winger so he's the 'next Cristiano Ronaldo', obviously. Reports in Portugal state that former Arsenal player Luis Boa Morte has been scouting him on behalf of Arsene Wenger, although Chelsea and Manchester United are among the numerous clubs interested in the 19-year-old. Getty Images Arsenal: Players linked with transfers Granit Xhaka (Borussia Monchengladbach) The Swiss midfielder has admitted it is a "childhood dream" to play in the Premier League while the club's president has admitted he may leave in the summer. A £37m will likely put a few off, however, despite his talent. Arsenal: Players linked with transfers Andriy Yarmolenko (Dynamo Kiev) Forever linked with a move to the Premier League, the Ukranian is again (apparently) a target for Arsenal, Liverpool and others. Extremely talented although will come with a high price tag. Arsenal: Players linked with transfers Odion Ighalo (Watford) The Hornets' all-time Premier League goalscorer has been a revelation this season, combining pace, strength and a deadly touch in front of goal to have a blistering campaign. Manchester United and Chelsea have also been linked. Arsenal: Players linked with transfers Edinson Cavani (Paris Saint-Germain) The Uruguay striker has long been a player linked with a move to the Premier League with Arsenal never far from his name, but the Gunners have never seriously followed up interest with a genuine bid. However, his continuation to play second fiddle to Zlatan Ibrahimovic means he is open to a move should one arise, and the player has spoken openly in the past of moving to the Premier League at some point in his career. PSG have apparently given clubs 'the green light' to make a bid for Cavani, 28. 2015 Getty Images Arsenal: Players linked with transfers Pierre-Emerick Aubameyang (Borussia Dortmund) Arsenal are reportedly fighting with Liverpool for the chance to sign the Gabonese hotshot but bad news - he doesn't want to leave Dortmund. Aubameyang, 26, said he wants to stay in Germany for now after being named African Player of the Year. The German club also confirmed they would not be selling. 2015 Getty Images Arsenal: Players linked with transfers Mauro Icardi (Internazionale) Fresh from being named Nerazzurri captain, the Argentine frontman top scored in Serie A last season for Inter Milan. Wenger is apparently ‘convinced’ that the 22-year-old would perfectly fit Arsenal’s playing style. He seems to fit the bill - a young goalscorer with serious potential, able of challenging Giroud, Walcott and Welbeck for the starting berth. The only fall-down point, however, would be his price- anyone seeking his signature would have to stump up at least £30m. Getty Images Arsenal: Players linked with transfers Adrien Rabiot (Paris Saint-Germain) Rumours persist about Arsenal’s interest in Paris Saint Germain midfielder Adrien Rabiot. Rabiot has been booed by Parisian fans recently after requesting a loan switch away from the club, with several Premier League clubs known to be interested, but PSG would prefer to sell the want-away star. A fee in the region of £15m should be enough to persuade the Ligue 1 outfit to sell as Wenger considers his next move. 2015 Getty Images Arsenal: Players linked with transfers Grzegorz Krychowiak (Sevilla) Sevilla’s midfield destroyer has drawn many admirers since his move from Rennes in 2014, with Arsenal long linked with the Pole. His partnership with Ever Banega and Steven N’Zonzi is one of the most cohesive in Europe and his no-nonsense defensive capabilities would add some much-needed grit to the Gunners’ midfield in the absence of Coquelin. However his price tag sits at a handsome £32m, having re-signed with Sevilla in November. Arsenal: Players linked with transfers Ruben Neves (Porto) Having captained Portuguese giants Porto at the tender age of 18, the midfielder is certainly a fine prospect. Francis Coquelin(24), Jack Wilshere(23) and Aaron Ramsey(24) all have the best of their careers ahead of them, but are often hampered by injury – Neves would cost around £30m and it’s difficult seeing Arsene Wenger breaking the bank for him. Getty Images Arsenal: Players linked with transfers Alvaro Morata (Juventus) The Spaniard has flourished since leaving the Bernabeu for the Bianconeri, downing his old side Real Madrid as Juventus marched into the Champions League final last season. He is only 23 and already a top-class centre forward, as Manchester City found out in September- but it seems more and more likely that Los Galacticos will activate their £21m release clause to bring Morata back to Madrid as long as Karim Benzema’s future remains up in the air. Arsenal: Players linked with transfers Michy Batshuayi (Marseille) The 22-year-old striker is believed to be on the radar of both Arsenal and Chelsea, although Marseille will not let him leave cheaply with figures in the region of £35m being touted over any move. The Belgium international has already matched his total goal haul from last season for club and country, having joined the Ligue 1 outfit from Standard Liege in 2014. He signed a new deal at the French club which may mean he stays and will definitely put up his price. 2015 Getty Images Arsenal: Players linked with transfers Jese Rodriguez (Real Madrid) The Spain forward is said to be available for £21.1m and, having fought back from a serious knee injury in 2014, has had to play second fiddle to the attacking triumvirate of Karim Benzema, Cristiano Ronaldo and Gareth Bale. With Jese’s Euro 2016 hopes in the balance, a move to Arsenal to lead their attack could suit the 22-year-old down to the ground and cement his place in the Spain squad. 2015 Getty Images Arsenal: Players linked with transfers Rico Henry (Walsall) Who? The 18-year-old left-back is making a name for himself with Walsall in League One, and has quickly gone about earning himself the tag of being ‘the next Ashley Cole’. While that accolade could be accused of being premature, it’s no secret that Arsenal have struggled to convince at left-back since Gael Clichy left the club with Nacho Monreal and Kieran Gibbs both failing to lock down to position. Henry could join the club in January but return to Walsall for the rest of the season on loan. 2015 Getty Images Arsenal: Players linked with transfers Daniele Rugani (Juventus) Rugani has impressed during his rise through the ranks at Empoli, although he actually joined Juventus back in 2013 only to spend the next two seasons with the Florence-based club on a co-ownership deal. However, after joining the Serie A champions in the summer, he has failed to make a single appearance in the league and his sole outing this season came in an 89th-minute substitute appearance in the Champions League. Having been touted as an Italian international in the making, Arsenal and Manchester United have been linked with the 21-year-old along with Napoli. 2015 Getty Images Arsenal: Players linked with transfers Karim Benzema (Real Madrid) There are serious doubts over Benzema’s future at Real Madrid given his involvement in an alleged blackmail plot that is currently being investigated by French police. Depending on the outcome, Benzema could see on the move after seven seasons with the Spanish side, and Arsenal are known to be big fans of Benzema’s talents on the field, having seen a move for him in the summer rejected. 2015 Getty Images Arsenal: Players linked with transfers Gonzalo Higuian (Napoli) The one who got away for Arsene Wenger in the summer of 2013 as Napoli blew Arsenal out of the water to sign him when he left Real Madrid. While Higuain’s talents remain undoubted, Napoli have suffered a drop in their reputation across Europe having failed to reach the Champions League this season. Head coach Rafa Benitez moved on in the summer and expectation is that Higuain will follow him out of the exit soon enough, although Chelsea’s interest in the Argentina international will be cause for concern for Arsenal fans. 2015 Getty Images Arsenal: Players linked with transfers William Carvalho (Sporting Lisbon) One position Arsenal have continued to look weak in is the defensive midfield role, with the side looking lost when Francis Coquelin is either unavailable of replaced. In the 23-year-old Carvalho, Arsenal could add one of the highest rated midfielders yet to picked up by one of Europe’s biggest teams, and while he has a release clause of £37m in his contract, Arsenal have shown recently that they will spend if the player fits. 2015 Getty Images Arsenal: Players linked with transfers Troy Deeney (Watford) The Hornets' captain has been linked with a £20m move to the Emirates. He has been excellent for an impressive Watford side, but ruled out leaving Vicarage Road.

Elsewhere Arsenal have been handed a huge boost as Danny Welbeck and Jack Wilshere returned to training after lengthy injury lay-offs apiece. Tomas Rosicky also completed his seven month recovery while Francis Coquelin took part in training on Friday morning. The Gunners are top of the Premier League, through to the round-of-16 in the Champions League and face Burnley in the fourth round of the FA Cup. Speaking about the returnees in his squad, Wenger said this week: “I would prefer to have the players back from injury.