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Arsenal could attempt to sign Juventus striker Dusan Vlahovic with a deal for Ivan Toney unlikely on the cards.
Toney has been heavily linked with a move to the Gunners, but Brentford boss Thomas Frank wants to keep him until the summer.
With the injuries in the Bees squad, the west London outfit find themselves at the risk of facing possible relegation from the top-flight.
Hence, Frank is reluctant to lose Toney in the current window and Arsenal could look at some of their alternatives including Vlahovic.
The Serbian was a top target for the Gunners in the winter of 2022, but he turned them down for a move to Juventus from Fiorentina.
He has since struggled for consistency in front of goal, but continues to be valued highly by some of the elite clubs across Europe.
Arsenal are one of his long-term admirers. It is suggested that they could propose a part-exchange deal involving Charlie Patino.