Transfer News: Arsenal Name New Manager as Chelsea Target $130-million Striker

The Champions League and playoffs winners might yet have to be decided but the transfer window has already grabbed the spotlight.

Here, Newsweek guides you through all the news and gossip in the Premier League ahead of what promises to be another summer of lavish spending.

We begin in north London, where Arsenal have finally found Arsene Wenger's successor. Multiple reports suggest the Gunners will appoint former Valencia, Sevilla and PSG boss Unai Emery as their new manager this week.

Unai Emery during a match between Caen and PSG on May 19, 2018. The Spaniard is set to become Arsene Wenger's successor at Arsenal. Charly Triballeau/AFP/Getty Images

Arsenal had looked set to name Mikel Arteta as Wenger's successor but, according to The Telegraph, the club got "cold feet" at the 11th hour over appointing the Spaniard, who is a highly rated coach but has never managed a senior game.

The decision did not go down well with former Arsenal striker Ian Wright, who told the Daily Mirror the club's swift U-turn over Arteta was "embarrassing." The Guardian, meanwhile, reports that Emery's transfer budget will be limited to approximately $67 million plus money generated from sales.

According to the Daily Mirror, one of the Spaniard's first signings could be Porto defender Danilo Pereira, who has been a long-standing target for the Gunners.

Moving across London, The Telegraph believes Chelsea have made Bayern Munich striker Robert Lewandowski their main transfer target this summer, even though he could cost in excess of $134 million. The Blues, who won the FA Cup on Saturday, could fund part of the transfer by selling Alvaro Morata, who moved to Stamford Bridge last summer for a club-record $91 million fee.

Willian could also be among the players leaving West London in the summer, although The Sun reports the Brazilian, who has been heavily linked with a move to Manchester United, is desperate to stay at the club. His fate depends on that of manager Antonio Conte, whose future remains shrouded in uncertainty, amid reports the Italian manager and the club both hope to go separate ways in the summer.

The Telegraph also adds Chelsea fans are concerned Roman Abramovich could be forced out of the club, after the British government told the Russian oligarch he must reveal how he acquired his wealth if he is to have his visa application approved.

Meanwhile, The Guardian suggests Manchester United manager Jose Mourinho has identified Tottenham Hotspur defender Toby Alderweireld as the man to revamp his team's defense. Due to a clause in his deal, should the Belgian trigger an option to extend his contract until 2020 he would be able to leave next summer for $29 million.

However, Spurs are likely to demand a much higher fee for the defender this summer, even though negotiations over a new deal with Alderweireld have stalled and he has been frozen out by Mauricio Pochettino.

Across Manchester, meanwhile, The Telegraph reports that Pep Guardiola is ready to launch a new bid for Leicester City winger Riyad Mahrez, who had already been linked with a move to City in the January transfer window.

Elsewhere, the Daily Mirror claims Liverpool are considering an audacious bid for AC Milan goalkeeper Gianluigi Donnarumma. The five-time European Cup winners have reportedly put forward a $47 million bid for the 19-year-old but the Serie A giants want double the amount.

Donnarumma is not the only player on Jurgen Klopp's radar, with The Sun suggesting Liverpool are considering bids for Burnley defender James Tarkowski and Newcastle United captain Jamal Lascelles.

Finally, West Ham have appointed Manuel Pellegrini as their new coach. The former Manchester City manager has signed a three-year deal with the Hammers.