Alessandro Matri, Nicklas Bendtner and Klaas-Jan Huntelaar are reportedly set for a transfer merry-go-round in January.
It has been rumoured for some time that Huntelaar is set to leave Schalke 04 in order to join Arsenal next month.
There are now suggestions that the German side could replace him with Bendtner, who is struggling for playing time during his loan spell at Juventus.
The Bianconeri could release Bendtner six months early so that Arsenal can use the Danish striker as part of this Huntelaar deal.
He would not be the only new forward coming in to the Emirates mid-season, as the Gunners are also said to be offering £7m for Juve bench-warmer Matri.