Gunners will have tough task trying to entice world-class players due to lack of Champions League football.
Ozil and Sanchez both have their contracts expiring next season.
Lacazette scored 28 goals in the league last season.
Sanchez, 28, only has a year left on his Gunners contract.
Arsenal have won nine out of 10 games playing with a 3-4-3.
Talks between Ospina and Fenerbahce at an advanced stage, reports say.
Gunners boss Arsene Wenger also targeting Monaco duo Kylian Mbappe and Thomas Lemar.
Mbappe scored 26 goals in all competitions for AS Monaco this season.
Buffon has indicated that he will retire after one more season with Juventus.
Algerian playmaker has been open about his wish to leave the King Power Stadium this summer.
Golovin, 21, will be loaned back to CSKA by the Gunners for one season, according to reports.
Perez joined Arsenal last summer from Depotivo La Coruna and could rejoin his former employers.
Yaya Sanogo made 20 appearances for Arsenal.
Alex Iwobi made 38 appearances in all competitions for Arsenal last season.
Bellerin is contracted to Arsenal until the summer of 2023.
Sanchez has one year left on his contract and says his Arsenal future lies in his agent's hand.
Reiss Nelson impressed for the Arsenal U-23 side this season.
Ernesto Valverde believes Bellerin can be an ideal signing for Barcelona this summer.
Wenger is ready to hand Lacazette a weekly wage of £200,000-a-week if he joins Arsenal.
Arsenal full-back Bellerin says it is nice to know of interest from a club like Barcelona.
Giroud made just 11 starts in the Premier League last season.
The 23-year-old had also been linked with Manchester City and Everton.