Arsenal have also been linked with Crystal Palace winger Wilfried Zaha.
The Gunners initially had plans of launching a move for Zaha once the window opened as part of the club’s ambitious plans to close the gap on the likes of Manchester City and Liverpool.
But those were seriously dented when they failed to qualify for the Champions League, missing out on the all important revenue.
Emery now has a budget in the region of £45million to spend.
Arsenal boss Unai Emery suffers transfer blow as Serie A side block swoop (Image: GETTY)
Zaha has supported the Gunners since he was a child, and is keen to land his dream move.
Arsenal will only be able to fund a move though if Emery oversees a major fire-sale to raise cash.
Earlier this year Zaha spoke of his ambition to play at the top level again after a failed spell at Manchester United.
“I’m too ambitious. And not ambitious just to play for a top club, but to win things at club level and with the Ivory Coast,” he said.
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Arsenal boss Unai Emery suffers transfer blow as Serie A side block swoop (Image: GETTY)
“For me to be better, to achieve what I know I am capable of, I have to aim to play at the very highest level, to win trophies.
“I’m blessed to have come this far in my playing career. But I feel like there is so much more I have to offer.
“I have to experience the Champions League. I just need the opportunity, that's it. And I'll do the rest.”