Former Arsenal star, Charlie Nicholas, has urged Unai Emery to sell three players, before bolstering his defensive options this summer.
The Gunners suffered a dismal run of form towards the end of the 2018/2019 campaign, to fall out of the top-four in the Premier League.
Having also lost to London rivals Chelsea in the Europa League final, Arsenal will again be absent from the Champions League next season.
Nicholas has identified Mesut Ozil, Lucas Torreira and Henrikh Mkhitaryan, as players who should be sold if the right offer is on the table.
"We're being slow again in the market. The manager has identified plenty of options. Defensively is the key area.
"I just hope we don't delay these deals. Arsenal need to get into the market. We can't afford someone like Aaron Wan-Bissaka but we need a whole new defence really.
"We need three defenders to come in which will cost £60-£70m.
"Who can they get out of the door? If you can get the right offer for Mesut Ozil you'd sell. Mkhitaryan can go and you want to keep Pierre-Emerick Aubameyang and Alexandre Lacazette.
"Torreira seems to be interested in going back to Italy. If you can get the right money: take it," he told Sky Sports.