Arsenal's Jaw-Dropping $375 Million Dream XI: How the Gunners Could Transform Their Squad

"We want to reach another level," Mikel Arteta stated after watching Arsenal fall just two wayward penalties short of claiming a first-ever Champions League trophy in the club's history.

"We'll start to make some very important decisions," he cautioned, "It's going to demand us to be very, very ambitious, very fast and very smart."

Always a man of his word (barring injury updates), Arteta appears to be actively pursuing significant attacking reinforcements this summer. BBC Sport names Bournemouth's Junior Kroupi, Aston Villa playmaker Morgan Rogers and Atlético Madrid star Julián Alvarez as three players featuring on Arsenal's "transfer wishlist."

Signing all three would cost a staggering $376.7 million (£280 million) according to the report's estimates, with Kroupi and Rogers's hefty valuations of $107.6 million each overshadowed by the enormous asking price for Alvarez.

Given the considerable spending of Arsenal's recent transfer windows, it seems highly improbable that they could bring in even two of these players—let alone the full trio. Even a single high-profile signing will almost certainly need to be offset by a substantial departure.

Nevertheless, if Arsenal are to return to the Champions League final—or play a style of football that draws less criticism—they will need to invest in more technically accomplished attacking talent.

How Arsenal Could Line Up With Julian Alvarez

(4-4-1-1): Saka, Rice, Lewis-Skelly, Trossard; Alvarez; Gyökeres.
(4-2-3-1): Rice, Lewis-Skelly; Saka, Ødegaard, Martinelli; Alvarez.
(4-3-3): Ødegaard, Zubimendi, Rice; Saka, Havertz, Alvarez.

The delivery driver who coached Alvarez in his youth did a remarkable job. The dynamic and energetic forward made an immediate impression at Manchester City and netted at least 20 goals in each of his two seasons at Atlético Madrid. A key part of Alvarez's appeal is his consistent productivity across a variety of positions.

Comfortable drifting in from the left flank, combining with a more traditional striker or leading the attack himself, Alvarez possesses an impressive skill set. His time at Atlético Madrid has also shaped the World Cup winner into a self-reliant player, capable of manufacturing his own opportunities through sheer determination. Arsenal, despite what many believe, do possess some creative quality, but Alvarez would bolster chance creation should Martin Ødegaard, Bukayo Saka and Eberechi Eze again be hampered by injuries next season.

This would represent a dream signing for the Gunners—though far from straightforward. Alvarez is expected to command a fee in the region of $160 million and has already attracted serious interest from Barcelona. However, the Catalan club's clumsy handling of the situation, which has only served to antagonize Atlético, could inadvertently work in Arsenal's favor during negotiations.

How Arsenal Could Line Up With Junior Kroupi

(4-4-1-1): Saka, Rice, Lewis-Skelly, Trossard; Kroupi; Gyökeres.
(4-2-3-1): Rice, Lewis-Skelly; Saka, Ødegaard, Martinelli; Kroupi.
(4-3-3): Ødegaard, Zubimendi, Rice; Saka, Havertz, Kroupi.

Much like Alvarez, Kroupi is a lively second striker capable of playing across the attacking line. Andoni Iraola even began deploying the French 19-year-old in a midfield role toward the end of a record-setting individual season.

Beyond becoming the highest-scoring teenage debutant in Premier League history, Kroupi also demonstrated an extraordinary work rate pressing relentlessly at the forefront of Iraola's high-intensity Bournemouth side. The question surrounding Kroupi is simply: how fortunate do Arsenal feel?

The cheerful striker bagged 13 goals from an expected goals (xG) tally of just 8.4—only Antoine Semenyo outperformed his xG by a greater margin in the Premier League last season, according to Opta. Very few players consistently outscore their xG over multiple campaigns, which is why assessing the quality of chances a player generates tends to be more revealing.

Kroupi averaged an xG of 0.36 per 90 minutes last season—suggesting he'd be expected to score roughly once every three matches—which is respectable for a 19-year-old, but considerably less eye-catching than his actual goal return. For context, Tottenham Hotspur's Richarlison and Chelsea outcast Liam Delap posted similar xG figures last term. Would Arsenal really spend over $100 million on either of those players?

How Arsenal Could Line Up With Morgan Rogers

(4-2-3-1): Rice, Lewis-Skelly; Saka, Rogers, Trossard; Havertz.
(4-1-2-3): Rice; Eze, Rogers; Saka, Gyökeres, Martinelli.
(4-3-3): Ødegaard, Zubimendi, Rice; Saka, Havertz, Rogers.

Arteta's footballing philosophy looks to the past for inspiration. Much like the iconic Ajax and Netherlands sides of the 1970s, Arsenal's manager demands that modern players be capable of functioning in multiple positions within the same match. Declan Rice is well on his way to mastering the central areas of the pitch, and Rogers is reportedly seen as a potential partner for his fellow Englishman.

The Aston Villa midfielder has endured a challenging campaign. While it concluded on a high with Champions League qualification and Europa League success, Rogers went through prolonged spells of inconsistent form, and his ability to beat opponents off the dribble has noticeably declined.

Nonetheless, the England international's positional flexibility is considered a key attribute by his many admirers at Arsenal. That admiration is believed to be reciprocated, with BBC Sport reporting that Rogers would welcome a move to the Emirates. Whether Ødegaard or Eze would be equally enthusiastic about another attacking midfielder entering the competition for places is an entirely different question.

How Arsenal Could Line Up With Alvarez, Kroupi and Rogers