Arsenal will already have an eye on the start of the new Premier League season, even though the campaign does not get underway for a couple more months.

The Gunnersare currently in the middle of the summer transfer window, with rumours continuing to surface about potential new signings.

Rumours over the last couple of weeks have been ramping up that Arsenal will look to sign Real Sociedad midfielder Martin Zubimendi and Chelsea goalkeeper Kepa Arrizabalagaas their first deals of the summer. After that, the attention is then expected to turn towards the Gunners bringing a new centre forward to the Emirates Stadium.

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Mikel Arteta and Co. will be hoping to prepare the Arsenal squad to challenge on all four fronts next season, particularly in the Premier League, after finishing second for three seasons in a row.

Part of that challenge will be overcoming reigning champions Liverpool, as well as battling other title hopefuls Manchester City, Chelsea and others.

When it comes to the transfer market, though, Arsenal may have a reason to be wary of challenging Liverpool next term.

The Liverpool ECHO have provided an update on the Anfield club's financial situation after their early spending spree in the transfer market. Liverpool have already signed Jeremie Frimpong, Florian Wirtz and Giorgi Mamardashvili to add to their squad for next season and are also on the verge of announcing a deal for Milos Kerkez.

Liverpool have also sanctioned the exits of Trent Alexander-Arnold, Caoimhin Kelleher and Nat Phillips on permanent deals this summer already to recoup some of the money they've spent on new signings.

With the reported transfer fees, Liverpool look set to have spent around £215million on new signings already, and the latest report offers a warning to other clubs in the Premier League.

The report claims that thanks to the amortisation of transfer fees over the last 12 months, Liverpool could still afford to spend another £200million on new signings this summer and stay compliant with Profit & Sustainability Rules (PSR). The financial year for Premier League clubs ends on June 30, meaning the figures will reset on July 1 for the new financial period.

Premier League clubs are currently allowed to record a loss of no more than £105million in a three-year period, with allowances made for other investments, including infrastructure, women's teams, academies and community projects.

There have been reports that Arsenal are waiting until July 1 to formally complete the signings of Zubimendi and Kepa due to the start of the new financial year.

If the report turns out to be accurate, though, Arsenal may be forced to brace themselves for one of their Premier League title rivals to strengthen their squad even further before the start of the new campaign.