Arsenal Transfer News Today: £400m quadruple deal on as Odegaard exit verdict falls

Updated: 15 Jul 2026 14:20 BST | 5 min read

Martin Odegaard, Norway, World Cup 2026 — © IMAGO

Robin Bairner | Chief Editor

Accredited football journalist and editor covering the game since 2006

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All the latest Arsenal transfer news in one place, including updates on Julian Alvarez and Bradley Barcola, as well on possible deals for Martin Odegaard and Viktor Gyokeres.

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Arsenal plot massive summer spend

Arsenal are targeting four summer arrivals that could see the Emirates Stadium side splash out an enormous £400 million (€430m) in a record-setting summer.

Mikel Arteta’s side are ready to build on their Premier League title success last season with a lavish transfer market that is set to make the Gunners the runaway favourites to defend their crown as they seek to address any weaknesses in their ranks.

TeamTalk reports that they are hotly pursuing a four-man shortlist which includes Morgan Rogers, who FootballTransfers revealed is ‘very, very close’ to agreeing personal terms with the club, Club Brugge winger Christos Tzolis, Newcastle midfielder Bruno Guimaraes and, most spectacularly of all, Atletico Madrid striker Julian Alvarez.

It is calculated that if Arsenal were to meet the asking price of all these players, they would have to spend a stunning £400m on top of the deals they have already concluded to sign Piero Hincapie permanently and Illan Meslier this summer.

Current ETV

Christos Tzolis

F, M, AM (L)

Brugge

Christos Tzolis

F, M, AM (L)

Brugge

ETV Range

€26.5M - €32.4M

Gyokeres considered as Alvarez makeweight

Viktor Gyokeres could be used as a pawn in any move for Atletico striker Julian Alvarez, according to TalkSport.

It claims that the Sweden international is someone that Arteta may be willing to sacrifice in order to make the deal happen.

Doubts have been raised over the likelihood of such a deal taking place. Swaps are notoriously difficult to conduct as they need the agreement of so many different parties, and though Atleti do hold an interest in Gyokeres, Arsenal’s interest in the Argentine is still at the ‘exploratory’ stage.

Interest in Barcola persists – but Liverpool lead the way

Another player on Arsenal’s summer shopping list is PSG winger Bradley Barcola, though Fabrizio Romano says that Liverpool are in pole position to sign the France winger.

“My understanding is still the same. I told you in April, May, June and now July that Bradley Barcola can leave Paris Saint-Germain this summer. Will he leave? That depends on the amount of money clubs are prepared to put on the table,” he said.

“He remains on Liverpool's shortlist. He is also one of the names Arsenal have under consideration, although Morgan Rogers remains Arsenal's number one target.

“For Liverpool, Barcola has been a top target since last summer.

“They still want the player and are waiting to understand the final financial package.”

Current ETV

Bradley Barcola

F, AM (L)

PSG

Bradley Barcola

F, AM (L)

PSG

ETV Range

€57.2M - €70M

Odegaard not for sale even if Bouaddi or Bruno signs

Arsenal will not allow captain Martin Odegaard to leave the club this summer, even if they are successful in recruiting another top central midfielder like Ayyoub Bouaddi or Bruno Guimaraes.

Arteta’s side want to increase their strength in depth and will, therefore, not be making one-in-one-out changes, the type of which might have seen Odegaard leave.

The Norway international has been troubled by injuries in recent months, which have seen his status with the Gunners come under question, although compatriot John Arne Riise has told FootballTransfers that he does not see the 27-year-old making a move immediately.

He had been linked with a €40m move to Galatasaray, although those rumours have been firmly denied.