The Gunners have struggled this season, and a fiery AGM shows fans are no longer prepared to wait for success.
The Daily Mail claims Wenger is preparing a bids for unsettled Manchester City striker Edin Dzeko and Crystal Palace wonderkid Wilfried Zaha.
He also wants a goalkeeper to provide competition and proper backup for Wojciech Szczesny following Vito Mannone's recent gaffe-prone performances.
Everton manager David Moyes has told any potential buyers they will have to fork out top dollar for midfielder Marouane Fellaini.
The Belgian is wanted by a host of clubs including Chelsea and Paris Saint-Germain, but could cost as much as £30 million.
Moyes said: "Everyone knows where Felli is, they know where to come and watch him and they also that it will be a big price if they are interested."
Chelsea boss Roberto Di Matteo fancies Fellaini as a long-term replacement for Frank Lampard, who could be bound for the Chinese Super League.
Guizhou Rehne are closing on a deal that could net the England man £250,000 a week, according to The Sun.
Still in China, Shanghai Shenhua's Nicolas Anelka could be West Ham-bound as Sam Allardyce looks to bolster his squad.
Allardyce worked at Bolton with Anelka, who is still only 33.
Europe's big guns have been put on alert after Borussia Dortmund striker Robert Lewandowski's contract talks ere put on hold.
The highly-rated Pole will be a free agent - meaning Dortmund could be forced to sell him next summer rather than lose him for nothing.
Manchester United head the queue of suitors, according to the Daily Mirror.