Inter Milan have ruled out selling Argentina striker Icardi this summer.
The French boss says he will continue to spend money like it were his own.
Tottenham, Juventus and Ajax also interested in signing 20-year-old defender.
Walcott is Arsenal's longest serving player following his arrival from Southampton in 2006.
The Arsenal boss insists the club are in the market but refuse to commit to sign back-up defender.
Arsenal have signed Granit Xhaka, Takuma Asano and Rob Holding thus far.
Kelechi Nwakali captained the Nigeria team to lift the Fifa U-17 trophy in Chile in 2015.
The 21-year-old demonstrated his ability with a goal for Japan in their Olympic opener against Nigeria.
French forward is looking forward to filling void left by Kevin Gameiro.
Riyad Mahrez scored 17 goals to help take Leicester to the PL title last season.
Shkodran Mustafi is currently in England with Valencia on their pre-season tour.
Nwakali led the Nigeria U17 side in the World Cup in Chile last year.
Germany winger has also been linked with summer moves to Arsenal, Juventus and Real Madrid.
The Gunners against completing deal for PFA Players' Player of the Year as rumours mount.
Mahrez scored 17 goals and provided 11 assists to help Leicester to the PL title in 2015/16.
Arsene Wenger has confirmed that he wants to sign another defender and a striker this transfer window.
Arsenal and Liverpool were both linked with moves for the 23-year-old Spaniard.
La Liga side sporting director also admitted they want to sign Napoli centre-back Raul Albiol.
Debuchy's long-term future at Arsenal remains uncertain with Bordeaux keen on defender.
Lacazette has scored 48 goals in his last two seasons at Lyon.
Wenger is keen to sign an attacker and another defender during this summer's transfer window.
Arsenal are in the market for a striker and a defender.