Arsenal are ready to back Arsene Wenger in chase for striker and defender

Arsenal are ready to sanction Arsene Wenger's double move for Alexandre Lacazette and Shkodran Mustafi even if it exceeds their originally planned transfer budget. The French manager has confirmed that he is looking to sign a defender and an attacker before the end of the summer transfer window, but will have to pay over the market value to land his targets.

The Times reports that the north London club's hierarchy is set to sanction over £70m ($93.5m) for the manager to land his priority signings. It is believed that the club were initially planning to keep their spending below £100m, but following the £30m capture of Granit Xhaka from Borussia Monchengladbach, they will cross their limit if they are to sign Lacazette and Mustafi.

The Lyon striker is Wenger's main priority after missing out Jamie Vardy earlier in the summer, and have already had a £29m bid turned down by the French club. The striker is said to be keen to join the Gunners, but his current employers want interested clubs to pay at least £40m.

West Ham United are also keen on signing Lacazette, who scored 23 goals in Ligue 1 last season. The Hammers, however, cannot provide the player Champions League football that puts Arsenal in the front seat. According to French publication Le 10 Sport, the Emirates Stadium outfit and the striker have already agreed personal terms, with just the fee to be agreed between the two clubs.

Mustafi is also high on Wenger's priority list, especially after Per Mertesacker was ruled out until at least the start of 2017 with a knee injury. The Valencia defender will be allowed to leave, but Arsenal will have to meet the La Liga club's valuation of £35m. The French coach will have to decide whether to meet the valuation or move for a more viable option, with West Bromwich Albion defender Jonny Evans also said to be on the radar according to the Mirror.