Wayne Rooney remains Arsenal’s dream signing this summer after chief executive Ivan Gazidis gave the green light to mammoth summer spree.

Sportsmail exclusively revealed last month how the Gunners were prepared to smash through all their financial boundaries to land Rooney this summer.

Arsenal hope a package of around £170,000-per-week and a multi-million pound signing on fee – plus the security of a five year contract – could persuade Rooney to take a pay cut from his current £250,000-per-week deal at Old Trafford, that has two years left to run.

The club have also explored moves for Fiorentina striker Stevan Jovetic and Real Madrid forward Gonzalo Higuain, who remain high on Arsene Wenger’s wanted list, while Swansea striker Michu is also a fall-back option.

Everton’s Marouane Fellaini and Bayern Munich’s Luis Gustavo have both been monitored by Arsenal’s scouting network.

But getting a sensational move for Rooney over the line remains Arsenal’s priority ahead of next season.

And Gazidis insists the club, who have in excess of £70million to splash on transfer fees this summer, have the financial structure in place to land established stars like Rooney.

He said: ‘Of course we could do that, we could do more than that. We are beginning to see something we’ve been planning for, which is the escalation in our financial firepower. It’s a progression over the next two seasons.

‘It’s quite significant for the club. It means we can look at some options that weren’t really in our financial capability. It really is time now for us to turn that into sporting success. I know Arsene is focused on that and we are together. This is not some veiled message.’

A new goalkeeper, central-defender and defensive midfielder are also wanted by Wenger this summer.

The club have held talks with Queens Park Rangers goalkeeper Julio Cesar’s representatives, but Wenger wants to keep his options open with Asmir Begovic, Simon Mignolet and Rene Adler all possibilities.

A move for Swansea centre-half Ashley Williams is at an advanced stage, with the Wales international known to be keen on a move to the Emirates Stadium.

Wenger is also on the look out for a central-midfield lynchpin in a similar mould to Alex Song, who left for Barcelona last summer.