No, sadly it isn't Luis Suarez, but Bayern Munich’s Luiz Gustavo, who is believed to be close to a move to Emirates Stadium.
Gustavo’s availability has been well known for some time now and whilst it is strange that Wenger has waited this long to make a move, at least he has actually taken decisive action in the transfer market.
Admittedly, midfield is probably the one area where Arsenal could do without strengthening but as Wenger himself put it: “We are a little bit thin squad-wise.”
Gustavo will add some steel to the Arsenal midfield and it would appear as if the Brazilian will be in direct competition with Mikel Arteta for a starting spot.
The Spaniard has made the deeper position his own in recent years but Gustavo will provide a real threat to the former Everton man.
Last season Gustavo was not a key feature in Bayern's all-conquering side and he made just 16 starts - but nonetheless he did manage to rack up some impressive figures.
In his 22 appearances he finished with a Performance Score of 821, getting one assist and scoring four times. He had an average passing accuracy of 93 per cent - a figure bettered only by Barcelona duo Xavi and Carles Puyol. He also won 73 per cent of his tackles.
Gustavo is a tough-tackling midfielder who loves the combative side of the game; Arteta has evolved at Arsenal but he is still nothing like a ball-winner. The Spaniard prefers to dictate the play whereas Gustavo likes to break-up attacks and get things moving again quickly.
The reported £14 million fee represents a fairly good bit of business, if the deal goes through, and at 26 there is definitely room to improve.
Aaron Ramsey has looked impressive in pre-season and it is hard to envisage how Wenger is going to fit him, Gustavo, Jack Wilshere, Arteta and Santi Cazorla into this Arsenal side. Cazorla can play out wide on the left if needs be but he is best utilised in a central attacking midfield role.
Obviously, there is going to be a bit more rotation this year at Arsenal, but that is no bad thing. By freely rotating his midfielders, Wenger will be able to keep his players fresh as they look to juggle domestic and European aspirations.
It may well come down to who has the squad that is best placed to cope with injuries, suspensions and a gruelling fixture list. Wenger has already admitted his side need to add to their ranks and signing Gustavo would be the first, vital step.