The Gunners could spend £40 million this week on Barcelona’s Alexis Sanchez and Newcastle United’s French international Mathieu Debuchy, according to Sky Sports sources.

Sources at Sky are saying that Arsenal is on the verge of paying £30 million for the Chilean international Sanchez after a deal to use him in part payment for Liverpool’s Luis Suarez fell apart.

Newcastle full-back Debuchy meanwhile is set to join Arsenal in the next 48-hours for £10 million as manager Arsene Wenger looks to fill the position left by Bacary Sagna following his free transfer to Manchester City.

France national team couch Didier Deschamps preferred to start the 28-year-old Debuchy over Sagna in this summer’s World Cup which stands him in good stead for his place in Wengers starting XI.