Arsenal transfer news: Coutinho terms agreed, Rodriguez pursuit, £100m spending spree

After leading Arsenal to FA Cup glory in his first few months as Gunners manager, Mikel Arteta is now looking ahead to the 2020-21 campaign as he seeks ways to improve his squad this summer.

Given the financial implications of the coronavirus pandemic, Arsenal are expected to be working with a severely limited budget this summer, but the Gunners continue to be linked with a host of big names regardless.

Arteta is supposedly keen to add reinforcements in all areas of the pitch, with the futures of some key players at the Emirates still shrouded in uncertainty ahead of next season.

Here, Sports Mole rounds up the latest news on possible comings and goings at the Emirates Stadium.

Sunday morning's Arsenal transfer talk news roundup:

Arsenal 'agree personal terms with Philippe Coutinho'

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Philippe Coutinho has failed to make his mark at Camp Nou since his big-money move from Liverpool, and the Brazilian has been persistently linked with a move back to the Premier League.

The attacker has fared slightly better during his loan spell at Bayern Munich, but Coutinho is expected to return to Barcelona upon the completion of Bayern's Champions League campaign.

With Coutinho supposedly desperate to force a move away from Camp Nou this summer, Catalan Sport claim that Arsenal have stolen a march on their rivals by agreeing personal terms with the former Liverpool man.

The report claims that Coutinho will now arrive at the Emirates Stadium on a season-long loan deal from Barca, where he has contributed 21 goals from 76 outings across all competitions.

Arsenal 'desperate to sign James Rodriguez'

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Another La Liga man who is supposedly surplus to requirements at his club is James Rodriguez, who has struggled for game time at Real Madrid under Zinedine Zidane.

The Colombia international, who has also been sent out on loan to Bayern Munich during his time in Spain, will see his current deal at Real Madrid expire in 2021 and could be available for cut-price figure this summer.

According to AS, Arsenal are now leading the race for Rodriguez's signature and are desperate to strike a deal for the former Monaco man in time for the 2020-21 campaign.

Atletico Madrid have also been credited with an interest in the 29-year-old, who has been restricted to a mere 14 appearances across all competitions for Los Blancos this season.

Arsenal planning £100m spending spree?

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Following Arsenal's recent FA Cup triumph, the Gunners have secured Europa League qualification and could be boosted financially by their success on the pitch.

Arteta supposedly wants to undertake a significant overhaul of his squad this summer, and according to The Sun, the Gunners hierachy are prepared to approve a £100m summer spending spree.

The North London outfit are believed to be closing in on a deal for Chelsea winger Willian, while Lille centre-back Gabriel Magalhaes and Atletico Madrid midfielder Thomas Partey have also been mentioned as possible signings.

Arsenal are also said to be keen on turning the loan spell of Real Madrid playmaker Dani Ceballos into a permanent deal, with the Spaniard playing a key role in the Arsenal midfield following the restart.

More transfer news from Arsenal:

Arsenal 'step up new goalkeeper search amid Bernd Leno injury fears'
Arsenal reportedly ramp up their search for a new goalkeeper after requesting further tests on Bernd Leno's injury. Read more.

Mikel Arteta 'overruled by Arsenal board over Ainsley Maitland-Niles future'
Arsenal reportedly place Ainsley Maitland-Niles on the transfer list despite Mikel Arteta's wishes to keep the Englishman at the Emirates Stadium. Read more.