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9th May 2023
09:33am BST
The Gunners may need to pay at least £80m for Rice or Caicedo, two of the Premier League's top defensive midfielders.
Liverpool, meanwhile, may need to overhaul their midfield, with Alex Oxlade-Chamberlain and Naby Keita set to leave on free transfers.
The Reds have been linked with Brighton's Alexis MacAllister, who was a key player for Argentina as they won the World Cup.
Ryan Gravenberch of Bayern Munich and Chelsea's Mason Mount have also been linked with a move to Anfield.
Meanwhile, at Old Trafford, Manchester United may need to sell players before they can sign anyone new. A centre-forward, possibly Harry Kane, is likely to be top of their wishlist.
The Red Devils, however, face an uncertain summer regarding transfers as the club are still in the process of a potential sale by the Glazers.
Elsewhere in the Premier League, Manchester City don't appear to need any new players, but there may be exits from the squad. Kyle Walker and Ilkay Gundogan could both leave Pep Guardiola's side this summer.
Chelsea also may need to focus on player exits after an unsuccessful transfer splurge over the last year.
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