Mikel Arteta's U-turn confirmed after Arsenal's £46m transfer decision

Arsenal Football Club has reverted to Mikel Arteta's primary target after pulling out of the race to sign Lisandro Martinez. The Gunners refused to get into a bidding war for the Argentina international after Manchester United emerged as a contender for his signature.

Arteta is on the market to sign a versatile defender who can provide cover at left-back while also being able to play in the midfield. Martinez proved his ability to cover multiple positions with Ajax last season, but the Eredivisie club's hefty demands saw the north Londoners end their interest.

Prior to Martinez's arrival on Arsenal's radar, Manchester City full-back Oleksandr Zinchenko was Arteta's number one target. The Ukraine international is primarily a midfielder, but has been deployed at left-back by Pep Guardiola at the Etihad Stadium.

The 25-year-old is Premier League proven, being a four-time winner with City, and can fulfil the requirements set out by the Gunners boss. Zinchenko can provide cover for Kieran Tierney at left-back while also taking over Granit Xhaka's position in midfield if necessary.

According to The Athletic's David Ornstein, Arsenal have returned to City to sign Zinchenko after taking Gabriel Jesus to the Emirates Stadium in a £45 million deal. The Premier League champions are open to sanctioning the transfer, but require the north London club to meet their valuation.

Arteta and Zinchenko have maintained a strong relationship after working together during the former's time as Guardiola's assistant at the Etihad Stadium. Arsenal have yet to meet the Manchester club's valuation, and only after they do so will they be allowed to discuss personal terms with the Ukrainian.

"The clubs are in contact over a potential transfer and it is believed that City are open to sanctioning the 25-year-old's sale if their valuation is met," Ornstein wrote. "That has not happened so far but talks continue, with Arsenal thought to be prioritising Zinchenko after missing out on Ajax's Lisandro Martinez."

However, as per Italian transfer expert Fabrizio Romano, Arsenal are not putting all their eggs in one basket this time around. The Gunners are also monitoring Anderlecht left-back Sergio Gomez, who impressed in the Belgian league last season.

The Spain U21 international joined Anderlecht from Borussia Dortmund last summer and played 49 games in all competitions. The 21-year-old contributed seven goals and 15 assists from left-back, which has attracted attention from the Premier League giants.

Arteta has prioritised strengthening the left-side of his defence in recent days. Apart from signing a versatile defender, the Spanish coach is also keen to bring in a new midfielder and a wide forward before the transfer window shuts on Aug. 31.