4. Rafael Leao (AC Milan)

Red alert: Market opportunity spotted!
Rafael Leao is never too far away from the transfer conversation but his huge £150m release clause has kept suitors at bay… until now.
After six years, the 26-year-old reportedly wants to leave AC Milan and the Italian giants are seeking at least £60m from buyers, their facilitation of a move forced by a dreadful campaign that means the Rossoneri will have no European football next season.
It could be music to Arsenal ears as, despite somewhat modest returns in 2024/25, a £60-70m Leao represents a brilliant opportunity. He is an extremely tricky customer who thrives in one-vs-one situations and can create something from nothing, with his nimble movement defying a 6ft 2in frame that would make him a great outlet from long balls.
25 G/A in 50 games last year does not reflect his fine talent (not that those numbers are terrible) and Arsenal – a settled team involved in elite-level competition – could be a great environment for him to rediscover his best form.
Arteta loves a project signing.