Arsenal have identified areas of their squad they want to strengthen in the summer transfer window, but it will largely depend on which stars depart, according to The Athletic.
The Gunners spent big money last summer, but another season without Champions League football is likely to affect their finances.
Arsenal director Josh Kroenke has already conceded that Arsenal are playing in the Europa League with the wage structure of a Champions League club.
It is unclear what transfer budget will be set for Arsenal in the summer, with the suspension of football expected to have an impact on activity.
The club are claimed to have already identified areas of their squad that they want to improve.
The Gunners want to look to strengthen central defence, bring in a holding midfielder and add to the attacking options.
But a lot will depend on the futures of several of their top players who have been linked with a move away from the club.
The future of players such as Pierre-Emerick Aubameyang, Alexandre Lacazette, Shkodran Mustafi and Lucas Torreira have been under the scanner at Arsenal.
