Mikel Arteta is set to make a move for 70m-rated Dusan Vlahovic in January, believing he will enhance Arsenal's chances of contention for silverware.
Arsenal currently lack a consistent scorer, which has hindered their performance in the final third despite their attractive football style this season.
The Gunners face tough competition for Vlahovic, with several top clubs including PSG and Manchester United closely monitoring the situation.
Despite being six points behind Liverpool, Arsenal still believes they have a shot at the title if they can secure key signings like Vlahovic.
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