Arsenal are planning a £70million double raid on Sporting Lisbon for William Carvalho and Gelson Martins.
Portuguese outlet A Bola claim the Gunners are prepared to spend big this summer in a bid to reclaim a Champions League spot next season.
Arsene Wenger wants to beef up his midfield options with Carvalho, who has been linked with a move to the Premier League for the last four years during his time in Portugal.
Wenger saw his side lose too many midfield battles last term, with Swiss midfielder Granit Xhaka struggling to live up to his £30m billing since joining from Borussia Moenchengladbach last summer.
Carvalho, 25, was close to joining Manchester United before the departure of David Moyes in 2014.
The Portuguese international has also been linked with a switch to Manchester City this summer as Pep Guardiola looks to reshape his Etihad squad ahead of his second season in England.
Martins, 22, who bagged seven goals in 43 appearances in all competitions for Sporting last season, could prove a useful addition at the Emirates with his ability to operate as a winger or full-back.
The Gunners have already added Sead Kolasinac from Schalke on a free transfer and are close to sealing a deal for Lyon striker Alexandre Lacazette for £44m.
Arsenal are still in the hunt for Leicester City winger Riyad Mahrez but are fighting to keep hold of Olivier Giroud, Alex Oxlade-Chamberlain and Alexis Sanchez.