Arsenal's summer spending, contrary to alternative reports indicating that Thomas Vermaelen would be the club's sole acquisition, looks set to continue.

According to Serbia's Press Magazin, the Gunners are readying a $17.3 million bid for 20-year-old former U.S. youth international and aerial ball-winner Neven Subotic.

With the sale of Kolo Toure to Manchester City already complete, together with the anticipated departures of Emmanuel Eboue (Fiorentina) and Philippe Senderos (Everton), Arsenal could be light at the back, and so a move for Subotic could be on Arsene Wenger's agenda.

Subotic, who elected to play his international soccer for Serbia, first saw regular first-team club action at the age of 19 with Borussia Dortmund, and recently committed himself to a new five-year deal at the club. However, a strong bid from north London -- or perhaps from Chelsea or Manchester City, who are both reportedly interested in the youngster -- could force the Germans' hand.

Arsenal have collected nearly $65 million from the sales of Toure and Emmanuel Adebayor, and Wenger is believed to be in conversation with former captain Patrick Vieira about the prospect of making a return to London.

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