Arsenal can use Cesc cash to land Lyon keeper Lloris
But the 60-year-old added the caveat that the uncertain futures of William Gallas and Sol Campbell, who are both yet to agree extensions to contracts that expire imminently, could further increase the necessity for new faces.
The London Evening Standard says a new goalkeeper is a top priority. Manuel Almunia is an amiable character and a fine back-up but he has failed to consistently look the part as Arsenal's No1. He has kept his place largely due to the ineptitude of his supporting cast - Lukasz Fabianski has made a telling mistake in virtually every appearance and Vito Mannone had one excellent game at Fulham last September but is still in debit after a series of questionable performances.
Wojciech Szczesny has earned rave reviews at Brentford but aged just 20, he is one for the future. Manchester City's Joe Hart and Hugo Lloris, of Lyon, are options available for less than £10m, whereas Juventus's Gianluigi Buffon would cost more.