Aston Villa's England midfielder Morgan Rogers is now at the top of his summer target list.
Rogers, 23, has been identified by Arteta and sporting director Andrea Berta as the ideal solution to Arsenal's persistent left-side attacking problem.
He can operate as a number ten and wide left — both positions Arteta wants to strengthen — and won the Europa League Player of the Season award after a standout campaign for Aston Villa, which included a decisive goal in the 3-0 final victory over Freiburg.
Villa signed Rogers from Manchester City in January 2024 and have no desire to sell. Unai Emery views the Englishman as central to his long-term project at Villa Park, where Rogers is contracted until 2031. The club is expected to demand a minimum of £80 million, with Chelsea and Manchester United also in the mix.
Arsenal spent £250 million last summer on Viktor Gyökeres, Eberechi Eze, Martín Zubimendi, Noni Madueke and Christian Nørgaard, and are finalising a permanent deal for Piero Hincapié. The next window is likely to involve sharper, more targeted additions rather than wholesale spending, with attack the priority.
Gabriel Martinelli is a possible departure as Arsenal look to create squad room, and there is interest in Gabriel Jesus despite the Brazilian having one year remaining on his deal and no immediate desire to leave. A replacement for Jesus would only be pursued if the Brazilian moves on.
Arteta's message after the final loss — that this group can go further with the right additions — carried more weight than a routine post-match statement. Arsenal have now lost five consecutive European finals dating back to 1995, including the 2006 Champions League final, the 2019 Europa League final and Saturday's defeat in Budapest. That record will sharpen the ambition heading into the summer.