Wenger also faces a struggle to sign Manchester City’s Micah Richards having renewed interest in the right-back, with his availability depending on how Manuel Pellegrini decides to use the 25-year-old this season.

Swansea chairman Huw Jenkins has an agreement with Michu that will allow the club to demand £25million for his services, with the Welsh side prepared to play tough with clubs interested in the Spaniard.

Arsenal have had bids rejected for Wayne Rooney and Luis Suarez already this summer, and Wenger must be prepared to spend big if he is to please the club’s discontent fans.

Saturday’s 3-1 home defeat to Aston Villa was met with a chorus of boos, with many fans disappointed with the club’s lack of activity in the transfer market.

Michu’s current deal at the Liberty Stadium runs until 2016 after an impressive start to last season convinced Jenkins to tie down the 27-year-old in January, just six months after signing him from Rayo Vallecano for £2million.

He scored 18 Premier League goals in 35 appearances last term, and Jenkins will insist on following in Villa’s footsteps after staying stubborn on their £25million valuation of striker Christian Benteke.

Arsene Wenger claimed after Saturday’s defeat that he is working “24 hours a day” to sign new players. And it showed on Saturday: the Gunners looked as if they hadn’t had a training or tactical session in weeks.

A proper sharpshooter up front is just what they need, however, and paying a bit over the odds for Michu might make sense. After all, a player of his calibre could be the difference between hanging on to that fourth Champions League spot. Plus, Arsenal fans won’t want to hear it, but signing a good striker from a mid-table team (rather than a great one from a title-contending side) is precisely their level these days.

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