According to Sport, Arsenal are keen on David Villa, Victor Valdes and Alexis Sanchez, all of whom the club are opening to selling this summer.
It would be a huge boost for Arsenal to pull off any of those swoops, and redress the balance after years of selling their key players to Barcelona.
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Since Guus Hiddink arrived at the helm, Chelsea have improved considerably after a tricky start to the campaign.
Newcastle United are staring down the barrel of relegation to the Championship for the second time in the past eight years.