Villarreal midfielder Santi Cazorla is on Arsenal's shopping list.
The Mail on Sunday says Arsenal will splash out for Cazorla if they sell Cesc Fabregas to Barcelona.
With the forecast income from Fabregas plus a kitty of about £25m, Arsenal are ready to spend serious money this summer, smashing their club record of £17.5m for Andrey Arshavin in 2009.
Villarreal want at least £20 million for Cazorla, who is available from the Yellow Submarine this summer.
He is also a target for Malaga, though Arsenal can offer Cazorla Champions League football for the new season.
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