Arsenal director Josh Kroenke says they have a blueprint for the type of the player they want to sign this summer.
Kroenke also has highlighted the potential of the young players now carrying the team.
He told arsenal.com: "There have been a lot of changes in our squad in the last few years and I know the work still isn't done. In terms of bringing more players in, we would have liked to have moved faster in certain areas but there are some factors out of our control when you are on the back of a global pandemic and I think internally we recognise that there's still much work to be done.
"On a recruitment standpoint I will always defer to Edu and Mikel (Arteta) but I know they have a blueprint of the type of player and specific positions that we need to reinforce heading into the summer, so I'll defer to them and support them in every way that we can in their pursuit of elevating the quality of the squad and also ensuring that we have the right mentality of player coming in.
"We only want players who are passionate about Arsenal Football Club.
"Players arrive from other clubs, but are also elevated from our junior ranks, as is very obvious at Arsenal with Bukayo (Saka), Emile (Smith Rowe), and Eddie (Nketiah) making such huge contributions this season. The academy has been a really bright spot that receives great focus at our club.
"When you have a lot of turnover in the squad like we had, you create opportunities for those young players and credit to them as they have really seized the opportunity. When young players taste a bite of the apple at first-team level, they only want another bite and I think that's a tribute to the players and the staff for their internal hunger.
"And for as much frustration they feel now, because I know they really want that Champions League opportunity, we are always going to keep trying to pursue it and I think it's a very exciting thing for our supporters to know that that hunger resides in those young players."
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