Mikel Arteta hopes to lure new signings to his Premier League champions Arsenal, with an intriguing update emerging despite a big setback for the Gunners

Arsenal have missed out on one big transfer target but the Premier League champions are hoping to soon secure another.

Mikel Arteta's side have so far signed defender Piero Hincapie's permanently for £34million, before bringing in reserve goalkeeper Illan Meslier without a fee, after his contract at Leeds expired. Sporting director Andrea Berta has approved Leandro Trossard's £17million exit to Besiktas before securing his successor - £34million Club Brugge winger Christos Tzolis.

The Greek ace, 24, is said to be flying in for a medical. Yet another winger long thought to be destined to play at the Emirates has ended up across London instead - and rattled some cages with a provocative comment after making a record-breaking move. Here's all the latest Arsenal news.

Bruno Guimaraes update

Newcastle sources have refuted claims suggesting they have commenced discussions with Arsenal regarding Bruno Guimaraes.

The Times reported on Tuesday that Arsenal had formally initiated negotiations for the Brazilian midfielder, with Newcastle pricing him at £75m, reports the Mirror.

Nevertheless, football.london quotes Magpies sources as stating there remains no formal bid, proposals or even direct communication between the clubs concerning the player.

Conversations have occurred behind the scenes via intermediaries, with super agent Kia Joorabchian playing a role in facilitating Guimaraes' future.

The 28-year-old is also believed to have informed Newcastle of his desire to depart in pursuit of trophies elsewhere.

Yet Arsenal's valuation of Guimaraes, whose deal runs out in under two years, is reportedly significantly below Newcastle's expectations.

£70m Emirates extension signed

Arsenal have secured a fresh agreement with long-standing title sponsor Emirates valued at a reported £70m per year plus bonuses.

The arrangement, brokered by the club's chief commercial officer Juliet Slot, who is expected to become the next senior figure to depart the club later this year, marks a substantial rise from the £45m annually deal that was due to run until 2028.

It prolongs the airline's lengthy relationship with the north London outfit beyond the current contract's planned conclusion in 2028. The Telegraph reports that the revamped partnership encompasses the naming rights to Emirates Stadium and front-of-shirt sponsorship for Arsenal's men's and women's squads.

The venue has carried the name of the United Arab Emirates' carrier since its opening in 2006, with the shirt agreement commencing simultaneously.

The enhanced terms stem from Arteta's team securing their maiden Premier League crown in 22 years and Arsenal Women's Champions League triumph last season elevating the club's commercial attractiveness.

Morgan Rogers' dig

Morgan Rogers aimed a dig at Arsenal after joining Chelsea for a club record £117m from Aston Villa.

The England star, 23, who had long been expected to sign for the Gunners this summer, has instead joined their London rivals, now led by Xabi Alonso.

The winger will be set for an awkward meeting with Arsenal when the two clubs clash on September 6, after making an eyebrow-raising claim.

He said: "For me, Chelsea are the biggest club in London and a club I've always admired since I was a kid."

Arsenal are said to have baulked at exceeding their £80m valuation of Rogers, while Chelsea were willing to splash the cash for the Europa League winner.