Arsenal Eye £220m Newcastle Raiding Party as Havertz or Gyokeres Exit Looms

With nine points separating them from Manchester City at the Premier League summit and a Champions League semi-final berth within touching distance following their 1-0 victory over Sporting in Lisbon on Tuesday, Arsenal's summer rebuild is already taking shape behind the scenes.

Josh Kroenke, son of Gunners owner Stan and the club's co-chair, received a comprehensive briefing on transfer strategy during a late-February visit to London, per BBC Sport. The north London outfit splashed £250m on seven permanent arrivals last summer and faces the prospect of outgoings to comply with the Premier League's updated squad cost regulations.

Academy prospects Myles Lewis-Skelly and Ethan Nwaneri are available for the right price—representing clean profit on the balance sheet—with both players drawing interest from potential suitors.

Yet manager Mikel Arteta and sporting director Andrea Berta have cast their nets wider. Newcastle's coffers have attracted particular scrutiny, with three Magpies featuring prominently on Arsenal's radar.

Right-back Tino Livramento has caught the Gunners' eye, though an injury-ravaged campaign that's limited the 23-year-old to just 17 starts across all competitions may temper their enthusiasm. The former Chelsea academy graduate carries a £60m valuation, while Newcastle are anticipated to offload at least one significant asset this summer. Sandro Tonali and Anthony Gordon—both valued at £80m—have also piqued Arsenal's interest, with the latter drawing particular attention.

Should the Newcastle route prove problematic, Arsenal have been alerted to the availability of Celta Vigo fullback Oscar Mingueza, whose contract expires at season's end.

The real business, however, revolves around Atletico Madrid's Julian Alvarez. The Argentina international represents Arsenal's primary target, with Barcelona also circling the ex-Manchester City striker. Fabrizio Romano previously reported Alvarez hasn't ruled out a summer departure.

BBC Sport confirm Arsenal's pursuit is serious, but there's a catch: either Gyokeres or Havertz must depart before the Gunners accelerate their chase for Alvarez.