First and foremost, Arsenal look like they might have more money to spend this summer than was reported at the end of the season.

Sky Sports News reporter Kaveh Solhekol gave an insight earlier this month when he said on the Transfer Talk show: "What I have been told is that it suits Arsenal that people think they only have £45m, because when they get into negotiations over a player, the selling club is going to think Arsenal don't have much money.

 This has been backed up with comments from Arsenal's managing director Vinai Venkatesham.
"The numbers never come from us. We never ever, ever, ever talk about how much money we have to spend because that's the least helpful thing you can do.

"We have the budget to make a difference, but as Raul says, this is a particularly tough window and we're in the middle of it. I sense and understand the frustration, but there is a huge amount of misinformation out there in the market."

However, the key difference between the potential deals for Pepe and Zaha is that Arsenal are able to pay Lille in instalments to spread the cost over the next few years, rather than paying the £72m as a lump sum this summer.

Palace did not appear to be as open to this.

Sky Sports News understands the Gunners are increasingly confident a deal for Celtic defender Tierney is edging closer.

This is another move that Arsenal have tried to structure, but they saw their second bid rejected because it included too many add-ons and was dependent on the Gunners qualifying for the Champions League.