Arsenal have been quoted prices to sign Dayot Upamecano and Daniele Rugani, as Unai Emery looks to recruit a centre back, before the summer transfer window closes, the UK Guardian reports.
The Gunners conceded 51 goals in the Premier League last season, more than Newcastle United, Leicester City and Everton.
And Emery is keen to bolster his options ahead of the new campaign.
Arsenal agreed a £27million move for William Saliba last month, but the French defender will not arrive at the Emirates until next summer, after being sent back to Saint-Etienne on loan.
Emery has now identified France U21 international Upamecano as their top defensive target, ahead of transfer deadline day.
Reports on Monday claimed Arsenal had submitted a bid in excess of £55m for the RB Leipzig defender, who has enjoyed two productive seasons in the Bundesliga.
But Leipzig have informed Arsenal that it will cost £70m to secure a last-minute deal for Upamecano.
The North Londoners have also expressed interest in signing Italy defender Rugani from Serie A champions Juventus and were said to be in talks over a deal this week.
But Arsenal are now said to be considering a loan move for the 25-year-old, having been quoted a price of £50m to buy him outright this summer.