Arsene Wenger has admitted he has already started working on planning who he might sign in the summer.
The Gunners failed to sign two of their biggest targets during the summer of 2013 when it looked like first Gonzalo Higuain and Luis Suarez would be moving to north London.
Both deals failed to materialize and Wenger was forced into a deadline day deal for Mesut Ozil, having signed Yaya Sanogo and Mathieu Flamini on free transfers.
This time round it look set to be different with this summer's World Cup also a hurdle every club will have to overcome.
According to the Daily Mail, Arsenal executives have already made contact with Real Madrid over Alvaro Morata. And the Daily Mirror believe Wenger is impressed with Morata's Brazilian team mate Casemiro.
Striker Morata, 21, has scored six goals in 18 La Liga appearances this season.
Meanwhile midfielder Casemiro, 22, has found his playing time at the Bernabeu limited and has yet to start a La Liga or Champions League game for Carlo Ancelotti's side.
Arsenal scouts have been watching the Real Madrid pair throughout the season.
Also on the Gunners radar is Bayer Leverkusen midfielder Lars Bender.
The 24-year-old German international has made 25 Bundesliga appeances this season scoring two goals and has one assist to his name. He also appear in all six of his clubs Champions League group games, prior to their elimination from the competition.
Also on Wenger's priority targets list is Schalke's attacking midfielder Julian Draxler.
The Frenchman was targeting a January move for the 20-year-old but was put off by his £37million buy-out clause.
However Draxler has impressed this season in his23 Bundesliga appearances scoring a single goal and has six assists to his name. It might change the Gunners boss's mind about paying a high price for such a young player.
Scouts have also been tasked with looking at central defenders.
Wenger told reporters:
"We do spend time on next season, we are really focused and working very hard.
"Every day we spend time on that."