The Gunners hope to test the resolve of Real Madrid, with a blockbuster bid for the French star.
The Gunners have been habitually linked with potential moves for Benzema, over a number of years now, and this summer looks no different in that regard, with Fichajes.net suggesting that once more, Wenger is preparing to swoop.
Clearly, Arsenal are looking to strengthen their attacking options, so the addition of a proven striker such as Benzema, would certainly be a powerful statement of intent, that a serious push for both the Premier League and the Champions League, can once more become a reality at the Emirates.
A bid of €50 million is apparently ready and waiting to be lodged, which will certainly be a solid enough test of resolve, if such a formal bid is forwarded.
However, whilst Metro have subsequently claimed Real Madrid "are ready to cash in" on the French star, the reality is perhaps somewhat different at the moment, certainly in that context.
In all competitions this season, Benzema has struck 22 goals in 46 games, whilst also underlining his important contribution to team-work, with 11 assists. Such numbers would suggest he's a player Real Madrid would certainly want to retain.
Real Madrid president Florentino Perez also considers Benzema to be an "untouchable" component for the team. As such, only the player expressing a desire to leave the Bernabeu, would facilitate such a move.
Whilst at this stage, it would seem highly unlikely Arsenal will enjoy any success with a bid for Benzema, the transfer market can sometimes spring one or two surprises.
After being rated the highest for assists in Europe at the end of the 2012-13 campaign with Real Madrid, few could have predicted Arsenal would end up landing Mesut Özil. That move certainly caught many by surprise.
Important to note though, is that all the circumstances worked out perfectly in favour of Wenger that time, due in no small part to the managerial upheaval at the Bernabeu, as Mourinho departed and Ancelotti arrived, with the German craftsman quickly becoming unsettled by the changes around him.
Uncertainty evidently surrounds Real Madrid at the moment, which could work to Wenger's benefit, if he's trying to find the right words to coax Benzema into a move. However, it might take another last-minute bid at the end of the summer transfer window, to find out for sure.