Arsenal ended their 2019-20 campaign with the FA Cup, but the club's disappointing Premier League finish suggests that their squad is in serious need of improvement this summer.

The transfer window is now open, and the speculation surrounding new players is gathering pace, with the Gunners expected to spend despite seemingly having limited funds.

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

Saturday morning's Arsenal transfer talk news roundup:

Arsenal see second Joelson Fernandes bid rejected?

Arsenal have reportedly had a second bid for Sporting Lisbon youngster Joelson Fernandes turned down by the Portuguese outfit.

The Gunners are allegedly determined to sign the 17-year-old during this summer's transfer window, having closely monitored his form in the latter stages of Sporting's 2019-20 campaign.

According to A Bola, though, Mikel Arteta's side are still falling short of the club's asking price.

The report claims that Sporting are not budging on the teenager's €45m (£40.6m) release clause, and Arsenal's first bid was only in the region of €20m (£18.0m), followed by only a slight improvement in the second.

Arsenal told to pay full release clause for Atletico Madrid's Thomas Partey?

Atletico Madrid have reportedly reiterated to Arsenal that they will not sell Thomas Partey to to the Gunners this summer unless they trigger his €50million (£45.5m) release clause.

Mikel Arteta's side continue to be strongly linked with the 27-year-old, who has once again been in impressive form for Atletico during the 2019-20 campaign, making 46 appearances in all competitions.

However, according to Italian journalist Fabrizio Romano, Thomas will not be leaving the Wanda Metropolitano this summer unless his valuation is met in full.

The Ghana international's existing deal with Diego Simeone's side is due to run until June 2023.

Lucas Torreira hints at Arsenal exit

Arsenal midfielder Lucas Torreira has admitted that he would be open to leaving the Gunners during this summer's transfer window.

The 24-year-old ended the 2019-20 campaign with 39 appearances in all competitions but found it difficult to show his best form for the London club.

A number of teams are believed to be closely monitoring the Uruguay international's situation ahead of the 2020-21 campaign, with a move away from the Emirates Stadium seemingly an option.

"I have a contract with the club and I have to respect it, obviously if I have to leave it will be for the best," Torreira told Sport 980 when quizzed on his future.

More transfer news from Arsenal:

Arsenal, Manchester City, Juventus keen on Lyon midfielder Houssem Aouar?
Arsenal, Manchester City and Juventus are all reportedly considering an approach for Lyon midfielder Houssem Aouar. Read more.

Arsenal 'tell Ainsley Maitland-Niles he can leave'
Arsenal are reportedly prepared to cash in on versatile academy graduate Ainsley Maitland-Niles during the summer transfer window. Read more.

Frank Lampard opens up on potential Willian exit
The Brazil winger is understood to be closing in on a move to Arsenal. Read more.