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Arsenal came very close to going all-in on Morgan Rogers. Eager to make a significant statement in bolstering their attack this summer, the club identified the England international as the man who would help them build on their first Premier League title in 22 years.
However, while the Gunners were reluctant to meet Aston Villa's asking price for Rogers — despite having already agreed personal terms with the player — London rivals Chelsea had no hesitation in splashing a staggering $157 million (£117 million) to beat Arsenal to the deal. It's a fee the champions simply weren't prepared to match, but Chelsea's boldness will force them to look elsewhere in the market.
Rogers is a versatile attacker capable of operating in the shadow of a center forward, but he has also thrived at the top level on the left wing. Club Brugge's Christos Tzolis is set to arrive as a Leandro Trossard replacement, yet there remains a strong expectation that Mikel Arteta will pursue a high-profile signing to strengthen his attack.
Rogers wasn't to be, so here are five alternatives Arsenal could target instead.
Yan Diomande
Liverpool had shown interest in Yan Diomande at the start of the summer transfer window before discovering that the winger favors a move to Paris Saint-Germain.
Fortunately for interested clubs, Diomande failed to make a major impact at the World Cup with Côte d'Ivoire, meaning RB Leipzig's valuation hasn't risen in the aftermath. It was already steep enough following just one standout season of wing play at the elite level, with recent reports indicating the Bundesliga club is seeking $125.1 million (£93.5 million) for his signature.
Diomande is a thrilling talent with exceptional dribbling ability, and he could well be the X-factor Arsenal need in their attack. There's a clear unpredictability and variety to the young Ivorian's game that the Gunners currently lack in the final third.
His ability to operate on either flank means he could not only become the first-choice option on the left, but also provide Bukayo Saka with much-needed rest. And the winger will certainly require that next season.
Bradley Barcola
Diomande is less of a certainty than Bradley Barcola, who is one of Paris Saint-Germain's key quartet. The Frenchman has been considered the most expendable of the group, however.
That said, PSG aren't anxious about Barcola's situation. They have him under contract for the next couple of years and will only consider selling for a substantial fee this summer. In fact, L'Equipe reports that the back-to-back European champions value the French international at $171.2 million (€150 million).
However, that position could change if PSG finally manage to secure a deal for Monaco's Maghnes Akliouche. Three bids have already been turned down.
Liverpool are also pursuing Barcola, but one suspects the France international could be swayed by Arsenal, given the club's well-known French connection. Barcola belongs to the generation that grew up knowing Arsène Wenger and Thierry Henry, Arsenal's all-time leading scorer.
The 23-year-old ranks among the world's finest wide players, having proven himself at the highest level. There's an inconsistent streak to his game, but his natural ability is as frightening as anyone's in that position. He's a genuine match-winner.
Mika Godts
While Arsenal have funds available, the Rogers situation demonstrated that they won't be pressured into paying inflated prices.
Fans are desperate for a marquee signing, even entertaining the idea of Vinícius Júnior arriving at the Emirates Stadium, but Arsenal have reached their current standing under Arteta through smart and calculated business.
Tzolis could prove to be an excellent Trossard replacement, and there's a possibility the club could target another young wide player to reinforce the attack. Ajax's Mika Godts fits the profile of a potential Rogers alternative after enjoying a breakout campaign in the Dutch capital.
Just 21, Godts has attracted the attention of Europe's top clubs after registering 29 goal contributions in 32 Eredivisie appearances last season. Rudi García surprisingly left him off his World Cup squad, so we're yet to see Godts truly shine on the grandest stage.
He also struggled in an often outclassed Ajax side during the league phase of last season's Champions League. While Godts is of interest, Arsenal would be taking a gamble by signing another developmental prospect alongside Tzolis.
Kerim Alajbegović
A similar situation applies to teenage prospect Kerim Alajbegović, who is also reportedly on Arsenal's radar. The Bosnia and Herzegovina international showed at the World Cup that he's still a work in progress, but he also displayed enough promise to suggest he could develop into something truly special.
Alajbegović came through Bayer Leverkusen's youth system and had an impressive 2025–26 season with RB Salzburg. He has since returned to Leverkusen, but the 2023–24 Bundesliga champions are reportedly willing to sell the skillful wide player before he has made a single senior appearance for the club.
Atalanta and Chelsea have both registered interest, and Arsenal may consider making a serious move. At this stage, it's difficult to make the case that Alajbegović is ready to immediately star for a club of Arsenal's ambitions, and the arrival of either the Bosnian youngster or Godts would place considerable pressure on Tzolis.
Marcus Rashford
It appeared Marcus Rashford would have no shortage of suitors after the World Cup when his tournament began with an encouraging cameo off the bench against Croatia. However, the winger barely featured in the later rounds, with Thomas Tuchel opting for Anthony Gordon, who has effectively taken his place at Barcelona.
Barça's reluctance to sign Rashford permanently must have felt like a significant blow, and the Englishman's career finds itself at another crossroads.
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His wage demands remain a stumbling block, with most clubs across Europe simply unable to accommodate a move. Managers are also wary of his defensive lapses, making a transfer to Mikel Arteta's Arsenal highly unlikely.
Nevertheless, he is a player Arsenal have been linked with previously. Should they find themselves in a desperate position, a surprise move could be considered.