Arsenal have made contact with Barcelona to explore deals for Raphinha and Ferran Torres, 90min understands.
The Gunners have been keen to sign a winger since the summer, when they initially failed with a bid to persuade Raphinha to stay in England. The Brazilian left Leeds United for Barcelona, also rejecting Chelsea in the process.
Sights had been set on Mykhaylo Mudryk but the Ukraine international is now on his way to Chelsea after the Blues agreed to pay his €100m asking price, with Arsenal refusing to increase their final bid which ultimately fell just short.
Both Raphinha and Torres were discussed, with Arsenal understood to have held exploratory talks over a number of possible alternatives to Mudryk.
Now, with their top target heading elsewhere, Arsenal are prepared to step up their interest in their other targets to finally address their limited depth in wide positions.
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Raphinha, who joined in a £55m deal last summer, has had a mixed debut year with Barcelona, starting just seven times in La Liga and registering three goals in his first 22 games for the Blaugrana.
He has largely been forced to operate as a substitute this season, as has Torres, who has six starts to his name and just two goals.
Barcelona are known to be keen to trim their wage budget to allow them to make further signings, and Arsenal have enquired as to whether either Raphinha or Torres could be available before the end of the January transfer window.
90min understands that Arsenal have also explored a possible move for Brighton's Leandro Trossard, who has demanded an exit from the club this month and is seen as a more-attainable target than Kaoru Mitoma, who is also of interest to the Gunners.
Meanwhile, Arsenal are also among the sides to be monitoring Napoli sensation Khvicha Kvaratskhelia, who has been made unavailable for transfer and is likely to cost in excess of £100m if he does ever leave Naples.