The report contradicts the Daily Telegraph's earlier claims that Arsenal will have £20 million to spend - and states that Morgan Schneiderlin is Wenger's no.1 target.
Schneiderlin, however, has long been linked with Tottenham Hotspur. Should Arsenal try and prise the midfielder away from Southampton, they may go head to head with their north London rivals for the Frenchman's signature.
But the Mirror's report tips Wenger to instead prioritise Spurs-linked Schneiderlin instead.
|Team||Pos||Tackles Won||Accurate Passes||Goals||Chances Created||Apps||Mins|
As Opta stats show, Schneiderlin has been instrumental for the Saints so far this season, winning the joint-highest amount of tackles within Ronald Koeman's squad.
The Frenchman has also made far more accurate passes than any of his team-mates, while scoring the second-most goals at St Mary's. He has also created five chances so far this Premier League campaign.
Whether the 24-year-old will be allowed to leave Southampton is another matter, of course, and whether Tottenham will have a say on his future also remains to be seen.