Arsene Wenger is ready to take his spending for the summer to over £40million for the summer — whether Robin Van Persie stays or leaves the club.
Arsenal are now confident of landing £16million Malaga winger Santi Corzola and will make a bid in the next 48 hours.
Cazorla, 27, who played for Spain twice at Euro 2012, is keen to join the Gunners and would become the club’s third signing of the summer.
Lukas Podolski arrived from Cologne for £11m and Montpellier striker Olivier Giroud joined for £12.8m.
But before watching his team score two late goals to win their first tour of the Far East 2-1 against a Malaysia XI, Arsenal chief executive Ivan Gazidis told Wenger he could continue to chase more targets over the next two weeks.
Despite insisting otherwise, Wenger still wants Rennes £17m-rated midfielder Yann M’Vila as he is unconvinced over the fitness of injury-jinxed Abou Diaby. The manager is also set to pursue 17-year-old striker M’Baye Niang who plays for French club Caen although he has already seen a £6m bid rejected.
Arsenal’s squad took a six-hour flight to Beijing after last night’s game ahead of a friendly with Manchester City on Friday and they also play a game in Hong Kong on Sunday.
On returning to London on Monday, Wenger will meet again with 28-year-old want-away skipper Van Persie.
Wenger wants the situation sorted by August 18 but has told Gazidis he would prefer to know by the end of next week whether the club will sell.
Arsenal are also increasingly confident that Theo Walcott, despite interesting Chelsea and Arsenal, will sign a new contract as he has just one year left of his current deal.