Mikel Arteta’s side missed out on Champions League football (Picture: Getty Images)

Mikel Arteta is rethinking his plans for Arsenal’s summer rebuild and could sign just three players this summer, according to reports.

The Gunners carried out an overhaul of their squad last summer, spending almost £160million on reshaping the team.

Although they came close to sealing a return to Champions League football via the top four, they narrowly lost out to north London rivals Tottenham.

Arsenal are growing confident over sealing a deal for Gabriel Jesus (Picture: Getty Images)

According to The Sun, Arteta has been keen on bringing in up to seven new players in the next transfer window, but those plans are being scaled back.

Without Champions League football for next season, Arteta could have to settle for only three new recruits to add to his already small squad.

However, the report states that the north London club are becoming increasingly confident they can strike a deal to sign Manchester City striker Gabriel Jesus.

The 25-year-old will know Arteta well having played under the Spanish coach while he was Pep Guardiola’s assistant at the Etihad Stadium.

Jesus has just over a year left on his current City deal, and the Gunners feel an offer of £40m will seal the deal.

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After scoring in Brazil’s 5-1 win over South Korea on Thursday, the player said: ‘I’m looking to see what’s best for me and above all, for my career.

‘From Tuesday, we’ll see what is the best.’

For the midfield position, Leicester City’s Youri Tielemans tops Arsenal’s list of transfer targets, while cover for Kieran Tierney is also wanted by Arteta.

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