Arsenal title winner AAlan Smith has urged them to move for Fiorentina striker Dusan Vlahovic.
Newcastle are claimed to be readying a whopping £85million bid to bring the Serbia international to St James' Park.
Smith told Sky Sports: "Getting a proven Premier League striker is big bucks. Do Arsenal have that kind of cash?
"If they did fork out £60m or £70m it stops them from strengthening other areas of the team in the transfer market. They'd be putting all their eggs in one basket.
"I'd probably guess they'd go down the road of a younger player from Europe. Somebody like Dusan Vlahovic, who still won't be cheap, could fit the bill.
"I'm sure the analysis team at Arsenal are looking at all the stats to see who would be suitable and maybe a little bit cheaper as well.
"Like I said before, a lot of clubs are after that type of striker so let's hope Arsenal can be clever and quick in the transfer market. They'll need to be."