Having missed out on the Premier League title to Liverpool and falling short in the Champions League semi-final against Paris Saint-Germain, Arsenal's focus this summer will be around how to close the margins and get over the final hurdle.

One of the main points of focus in the summer transfer window will undoubtedly be addressing the need for a world-class number nine who can be the beneficiary of the Gunners’ chance creation, with the lack of such a focal point being a key piece of the puzzle that has been missing for Mikel Arteta’s side.

Of all the positions, finding such a player in the number nine role that can make a meaningful contribution is not a cheap endeavour. To look at the players in that role who have been linked with, the likes of Newcastle United’s Alexander Isak’s ability to transfer his talent into the Premier League and become a difference maker for the Magpies means that his market value has soared to some £150 million, and Newcastle have little need nor inclination to engage with those seeking to acquire the Swede’s services.

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But this summer, with Sporting CP’s Viktor Gyokeres’ 96 goals in 101 games in all competitions having European football’s big guns on red alert.

At almost 27, former Coventry City man Gyokeres is a player in his prime but yet to test himself in the biggest domestic leagues. But with Portugal’s top tier a proven breeding ground for talent that can adapt quickly to the Premier League, as well as six goals in eight UEFA Champions League games this past season, he has the age and profile to command a big sum.

Reports have suggested that a release clause for Gyokeres is in the £54.6m bracket. Analysts at Swiss-based , who use a variety of scientific metrics to determine the transfer value of players, have placed Gyokeres’ value at between €55m and €77m (£65m).

So, using the £54.6m clause reported, what does that mean for Arsenal, their chances of getting him, and their position when it comes to the Premier League’s profit and sustainability rules (PSR)?

The Gunners will head into the summer with the ability to invest in the market in a meaningful way, the lucrative sums extracted from the Champions League bolstering their ability to do so.

The club saw a revenue surge of £149m (32%) from 2023 to 2024, with , Chelsea and Liverpool in the annual Deloitte Football Money League, which was published in January.

This current year, which for Arsenal runs until the end of May, will likely see another banner year, with the club’s run to the quarter-final stage of the Champions League delivering £89.3m in prize money, with the extra funds from matchday revenue and additional broadcast money that will come meaning that over £100m has been achieved already.

When it comes to what the summer looks like, Arsenal’s wage bill rose £93.1m to £327.8m between 2023 and 2024, and while it will likely continue on an upward trajectory, the club will be keen to see a more steady rise this time around, something that may be aided by the potential exit of big earners such as Thomas Partey and Jorginho in the summer.

The club’s PSR position for 2025 will be one of significant headroom, with the 2021/22 loss of £45m dropping off the three-year cycle and likely replaced with a far smaller loss, even a potential return to the black for the Gunners. With PSR headroom of around £116m estimated for 2024, the 2025 position could well see that figure nearer £140m to £150m in allowable losses before the rules start to bite, meaning the club has the ability to spend.

The club’s transfer debt is the fourth highest in the Premier League, and this is an important feature of clubs determining how much to do in the market, with Spurs’ high transfer debt and limited amount of receivables coming in means that cashflowing deals to meet instalments can be tricky, with reports claiming that the Gunners’ north London rivals may have to sell players in order to sign, even though they have no PSR issues.

Arsenal’s transfer debt stands at £268m, a way behind Spurs (£307m), Manchester United (£331m) and Chelsea (£479m). It is still significant, though, with it doubling in three years. The club’s transfer debt of £268m is against a figure of £39m in transfer receivables due, so with a net figure of £229m, Arsenal may look to alight themselves of some players for a transfer profit this summer knowing that they will need to spend.

But the Gyokeres deal would appeal. He fits the profile, and while he will carry risk through a lack of Premier League experience, the fact he has played in England wil make them feel more confident. So, too, will the price tag. It falls below what a player with such a reputation and profile would go for in the current market, but Gyokeres’ camp will likely be aware of that too, and that means greater leverage from the player side when negotiating wages.

Transfer fees, for accounting purposes, are amortised over the maximum length of five years, even though the playing contract can be longer than that. That would mean that the possible £54.6m fee for Arsenal would be accounted for as just shy of £11m per year. The club’s current amortisation charges are £171m, the third largest in the Premier League behind Manchester United and Chelsea. The fact that wages and amortisation have increased significantly in the last 18 months means that major spending in several positions likely won’t occur, with the bulk of spending set to focus on an attacking addition.

Some reports have Gyokeres earning around £40,000 per week at Sporting, but any move to the Premier League with a club of Arsenal’s size and stature, and the market strength of the league itself, means that something around £120,000 would seem more likely. That figure, as an example, would add £6.2m onto Arsenal’s wage bill. Combining that with amortisation costs, that is a potential £17.2m outlay annually on the player, and while there is the room for such a deal, some players moving on seems likely to try and compensate for some of that, although additional revenues accrued this past 12 months from prize money and commercial revenue will embolden them to press ahead.

It is a deal that would make sense, and an option far cheaper than some of the others that have been mentioned. This summer will be the biggest move of Gyokeres’ career. If he signed a five year deal he would be almost 32 at the end of it, so he is unlikely to make too many concessions when it comes to his wage demands, although Arsenal will know some limit will be applied given he is coming from a smaller market with no Premier League pedigree.

Arsenal are in a strong position to make a call on it, but they will struggle to find too many cheaper alternatives. It will all depend on how much they are willing to put on the line to try and close the gap, and which player gives them the greatest chance of usurping their rivals and securing domestic and European glory.