The Gunners are seeking to bring in a manager, who is a strict disciplinarian, to shake the club out of its malaise.
But after two years of heavy investment, the club will rein in spending this summer.
Luis Enrique is the leading contender to replace Arsene Wenger, who will leave this summer. Joachim Low, Max Allegri and Patrick Vieira are also in the frame.
Whoever is handed the task of leading Arsenal into the post-Wenger era, will have to do it without huge spending power.
There is money to make one big signing this summer, with a new centre back the priority. Mainz’s Abdou Diallo and Wolfsburg’s Ohis Felix Uduokhai are targets.
Arsenal have broken their transfer record twice in signing Alexandre Lacazette and Pierre-Emerick Aubameyang, who cost a combined £112m, over the past 12 months.
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