Arsenal are unlikely to move for Emiliano Buendia this month because of a lack of funds.
The Norwich midfielder is on their radar but the Championship club do not want to sell while in a promotion race and a potential £40m price tag would be a non-starter in January.
Gunners boss Mikel Arteta has made it clear they have to focus on clearing the decks first and if they can do that they may be able to do a deal.
But unless they can get the finances right, a short term deal or loan would seem a more likely option in January after being linked with Real Madrid star Isco and Paris Saint Germain’s Julian Draxler.
Young defender William Saliba has joined Nice on loan for the rest of the season while there is interest from Olympiacos in Greek defender Sokratis.
Mesut Ozil is unlikely to leave in January while on an incentivised contract and looks set to stay until the summer when he is a free agent along with the likes of Shkodran Mustafi.
Lucas Torreira could return from his loan at Atletico Madrid while Matteo Guendouzi is out on loan at Hertha Berlin.
Unless they get players out then they may struggle to bring fresh faces in at the Emirates in January.
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They have also looked at Borussia Dortmund’s Julian Brandt and long term signings are more likely in the summer when Arteta can reshape his squad.
Dortmund's sporting director Michael Zorc admitted he has not received any offers for Brandt but refused to comment on whether Arsenal had made their interest known.
Who should Arsenal look to sign in January? Have your say below.
"My years of activity have taught me that I don't rule anything out at the beginning of a transfer period," Zorc said.
Asked about the Arsenal rumours, he replied: "I read that too, I can't say more about it.
"No one has contacted us, there is nothing on the table – and not even in the fax machine.
"That's all I can say."
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