Arsenal have been warned it would be ‘crazy’ to spend even £70m on one of Mikel Arteta’s top transfer targets this summer. Arteta is desperate to welcome a top goalscorer to the Emirates Stadium this summer after his Arsenal side went a fifth successive season without a trophy.

Arsenal have taken up the option to extend Albert Sambi Lokonga’s contract by a year. That should enable them to sell him this summer for a reasonable fee. Sevilla had an option to make last season’s loan permanent but have not taken it up. Lokonga’s preference would be to remain in Spain.

The obvious priority for Arsenal will be to sign at least one world class striker. Gabriel Jesus is sidelined with a serious injury that could keep him out until midway through next season, and while the returning Kai Havertz remains one of Arteta’s favoured players, there is a strong desire to add an out-and-out proven goalscorer to the ranks.