The north Londoners are still in the market for new players before the window closes on Monday and have been linked with the Real Madrid playmaker.
Arsenal have a few more days of the transfer window to bolster their squad, with the Emirates Stadium faithful keen to see new faces join the club. To date the Gunners have resigned Mathieu Flamini on a free transfer and added young French striker Yaya Sanogo to their ranks.
Arsene Wenger has stated that he will not be forced into buying players for the sake of it, and will not panic buy.
“I am confident. We will not panic buy that is for sure. It's not my strength to panic,” the long-standing manager said.
"You need good players in every position, and especially you need an attitude and way to play the game. The players here know the way we want to play and that is important.
"If we can add players who can integrate with that style of play we will do it.
"We work very hard on that, if we cannot we will not do anything stupid just for the sake of saying that we have done something. We do what makes sense or not, that is simple."
Kaka has been vocal in his desire to leave the Santiago Bernabeu, with first-team opportunities limited due to the sheer quality in Carlo Ancelotti’s squad.
"I have less and less of a place on the team," said Kaka. "The club knows that I would like to leave and I want it to help me find a solution."
In his AC Milan days, the Brazil international was one of the best players in the game and a worthy winner of the Ballon d’Or in 2007. However, the South American has failed to live up to expectations in his time in the Spanish capital and question marks now linger over whether he can ever recreate the form that earned him a big-money move to Madrid.
At 31 years old Kaka does not have long left at the pinnacle of the European game, with a move to the MLS or back to his homeland likely in the near future. Until that happens he still has something to offer a top European side but lacks longevity.
It remains to be seen whether Arsenal are actually interested in the playmaker or whether it is mere paper talk. If the Gunners do move for the Madrid fringe player it would seemingly go against Wenger’s statement and certainly would represent a panic buy.
Kaka took time to adapt to life in Spain and would most likely need a bedding-in period at the Emirates. He certainly would add flair, creativity and excellent passing skills to the Arsenal midfield, but would not represent a typical Wenger signing.
Kaka has had his day and although he is still good enough to play in one of Europe’s top divisions and in the Champions League, it remains to be seen for how much longer. His acquisition would potentially be a short-term fix for Arsenal but a move for the ageing Brazil would reek of desperation and panic by the north London club.
image: © Jan S0L0