The latest shock name under consideration is Jose Mourinho’s Manchester United assistant Rui Faria.
SunSport unveils some of the names likely to be on the list – and assesses their chance of becoming the first new Gunners boss in 22 years.
Check out the full list, below…
Juventus chief has made no secret of his interest in coming to the Premier League and could have the choice of Arsenal or Chelsea.
The Italian is the new bookies’ favourite and just waiting for the call.
Gunner rating: If Arsenal want him, he’ll want them.
Germany boss has plenty of admirers for his work with the world champions but he has signalled he wants to stay on with Die Mannschaft until 2020.
Could be a Real Madrid target too if he changes his mind.
Gunner rating: Plenty of people at the Emirates would fancy him but does not seem likely.
Portuguese boss of Monaco made a massive impact as he steered a fledgling team to last year’s Champions League semi-finals and then had half of the side sold that summer.
An English speaker who is ready for a new challenge.
Gunner rating: Appears to have slipped down the radar this season but could re-emerge.
Former Borussia Dortmund coach appeared the perfect Arsenal fit given his relationship with new Emirates big-hitter Sven Mislintat.
But while Tuchel fell out with the Dortmund players and Arsenal dithered, PSG pounced and he is expected to be announced as Unai Emery’s successor later this month.
Gunner rating: Too late – they’ve missed the boat.
Surprise candidate, especially given his long-standing close relationship with Jose Mourinho.
Initially a fitness coach under Mourinho, whom he first met at Barcelona, during their period with Leiria, and has moved up the pecking order as a loyal lieutenant.
Gunner rating: A shock contender and even more of a shock appointment.
Double-winner with Chelsea in 2010 before harshly sacked a year later for only finishing second, Ancelotti is the ultimate managerial fixer.
He's got Juve, Milan, Real Madrid, PSG and Bayern Munich on his CV, too.
Has a home in London and would definitely fancy it.
Gunner rating: If Arsenal want a smooth transition, there is nobody smoother.
Wenger’s first Arsenal signing and still revered by Gunners fans for his role as the midfield enforcer of the Invincibles.
Fell out with his fellow Frenchman and ended up on the payroll at Manchester City’s global empire.
Currently coaching their New York offshoot in the MLS.
Gunner rating: Despite his Arsenal past, City might have first call on his future.
Success at Celtic has given Rodgers his sheen back after his last 18 months at Liverpool became increasingly tough.
Rodgers is thought to have been house-hunting in the London area and would relish the prospect of another big Premier League job.
Gunner rating: Winning with a dominant Celtic not the same as competing against City and United but would play attractive football.
The Hoffenheim coach was only 28 and the youngest coach in Bundesliga history when he took charge in 2015.
He has already made a steady and strong impression with his youth and enthusiasm.
Under contract until 2021 but ambitious and would relish the challenge.
Gunner rating: Youth against him – but Stan Kroenke appointed a 30-year-old head coach at the Los Angeles Rams last year.
Many have seen the Europa League semi-final as a public audition for the Argentine pitbull.
In which case, being sent to the stands after 12 minutes last week probably did not help.
A defensive coach who preaches team values and a proven winner. Anything goes in the pursuit of success
Gunner rating: Would give Arsenal backbone but unclear the fans would want to watch a team play so cautiously.
Former Gunners midfielder is another who has joined the City staff, where he is part of Pep Guardiola’s backroom team.
Has impressed many by bringing the same calmness he showed on the pitch to a coaching role.
But hard to see him returning as the main man.
Gunner rating: More likely to come back as part of a coaching team rather than the boss.
Arsenal’s greatest striker, arguably their greatest player, and cutting his coaching teeth as Roberto Martinez’ Belgium No2.
Whether the Frenchman would really fancy getting his hands dirty every day, when he has a lucrative Sky contract in his pocket, is another matter.
Gunner rating: Blotted his copybook with some perceived criticisms of Wenger but would be a huge popular candidate.
Chain-smoking Napoli boss has made his side one of the most attractive in Italy.
He's had the Neapolitans dreaming of a first Serie A crown since Diego Maradona’s day before the weekend thumping at Fiorentina.
Appears to have tired of owner Aurelio De Laurentiis and would be open to the chance.
Gunner rating: Philosophy would seem a natural fit but not a proven winner.
For so long Liverpool boss Jurgen Klopp's No2, Buvac is now being strongly tipped with the soon-to-be vacant position at Arsenal.
Said to be the real brains behind the Reds' exhausting "Gegenpress" defensive tactic, Buvac could be the man to finally add some grit to the Gunners' back-line.
Gunner rating: Strong defensive mindset but lacks experience as a No1 manager, having spent just three years at German minnows Neukirchen.
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