The summer transfer window has now begun, with rumours and speculation continuing to swirl as Arsenal eye possible reinforcements.

The Gunners spent more than many expected last summer - most notably their club-record purchase of Nicolas Pepe - but were more reserved in January as they focused on bolstering their defensive options.

Here, Sports Mole rounds up the latest news on possible comings and goings at the Emirates Stadium.

Friday morning's Arsenal transfer talk news roundup:

Manchester United 'leading race for Real Madrid's Sergio Reguilon'

Manchester United are reportedly leading the race to sign in-demand full-back Sergio Reguilon from Real Madrid this summer.

The 23-year-old has emerged as one of the most coveted defenders in European football following an impressive 2019-20 campaign on loan at Sevilla, helping the Spanish outfit to Europa League glory and knocking Ole Gunnar Solskjaer's side out along the way.

Madrid boss Zinedine Zidane is understood to deem him surplus to requirements at the Bernabeu due to the presence of Ferland Mendy and Marcelo at left-back, prompting a competitive race for his signature.

Spanish outlet AS reports that United are at the front of the queue having promised Reguilon regular first-team football ahead of Luke Shaw and Brandon Williams.

Madrid are thought to be holding out for a bid of around £25m for the Spain Under-21 international, while they would also want a buy-back clause included in any agreement.

Arsenal, Tottenham Hotspur and Sevilla are among the other clubs to have been linked with Reguilon, while Chelsea were also interested before signing Ben Chilwell instead.

Arsenal 're-sign Dani Ceballos on loan from Real Madrid'

Arsenal have reportedly reached an agreement with Real Madrid to re-sign Dani Ceballos on loan for the upcoming season.

The 24-year-old spent last term on loan at the Emirates Stadium too, establishing himself as an important member of Mikel Arteta's side.

Ceballos reportedly turned down three other offers in favour of returning to North London, and Arsenal are now understood to have agreed terms with Madrid.

Transfer expert Fabrizio Romano claims that the paperwork has now been signed between the two clubs, with official confirmation of the deal expected later today.

The Gunners will pay Ceballos's full wages as part of the agreement, which stretches until June 2021.

The Spain international, who had also been linked with a return to Real Betis, made 36 appearances for Arsenal across all competitions last season, scoring two goals.

More transfer news from Arsenal:

Arsenal 'considering move for West Ham United winger Felipe Anderson'
Arsenal reportedly emerge as surprise contenders to sign West Ham United winger Felipe Anderson this summer. Read more.

Arsenal 'agree £24m Lucas Torreira sale to Fiorentina'
Arsenal reportedly agree a £24m deal to sell Lucas Torreira to Fiorentina once Dani Ceballos completes his loan return from Real Madrid. Read more.