Mikel Arteta has raised the possibility of Arsenal making a dramatic late move in the transfer market after learning Mikel Merino faces a battle to play again this season due to a fractured foot.

Merino is set to undergo surgery this week “with the aim of returning to full training” before the end of the campaign.

Sources in Spain have told ESPN that Merino is optimistic he will be able to return to action in May and be available to make Spain’s squad for the World Cup finals this summer.

“It is a very rare injury so we have to wait and see once we have the surgery, how it reacts daily, obviously monitor it throughout the weeks post surgery and see,” said Arteta on Monday.

“I know Mikel is going to do absolutely everything he possibility can to come back as quick as possible.

“But as well you have to respect the healing process and the fact it is an injury which is quite rare.”

Speaking just five hours before tonight’s transfer deadline at 7pm UK time, Arteta was asked whether Merino’s injury would make Arsenal look at the end of the transfer window differently.

“Of course,” he replied.

“When you lose a big player like this in the squad with four months to go and all the competitions to play for, you need to look and we need to do everything we possibly can to see if we have a player that is available.

“If we don’t, ok, we keep what we have.

“At this level, especially for four months, you have to bring a player who has the capacity to adapt immediately and impact the team.

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“That’s not easy but if it was easy, we wouldn’t be here so we need to find solutions and try.

“We had the news a few days ago and obviously we are always active in every window we have just in case something happens.

“We had the departure of Ethan [Nwaneri] to Marseille [on loan] I believe for the right reasons, for the club, player and the team.

“And then the news of Mikel was very unexpected, especially for such a long time.

“We are actively looking at options. We will continue to do that.”

Pushed on whether he would be relaxed were Arsenal not to sign anyone today after spending £250 million on eight new players last summer, Arteta said: “I wouldn’t say relaxed.

“I think we are on it, and it’s our responsibility, when we are playing for what we are playing, to give ourselves the best opportunity and chance to look at the market, every option, evaluate them, and then make a decision whether we do something, if it’s possible.”

Arteta also suggested the hip injury which forced Bukayo Saka to miss Saturday’s 4-0 win at Leeds would not sideline him for an extended period.

“We have to wait,” said Arteta. “Today he was better but we have to wait and see how he responds and make a decision.

It doesn’t look like something too serious, whether he is going to be available for tomorrow or the weekend, we will see.”

Arsenal face Chelsea at Emirates Stadium in Tuesday’s Carabao Cup semifinal second leg, leading 3-2 from the first game.