Arsenal is looking to make a big splash this summer in hopes of improving their chances of winning a silverware next season as reports indicated that they are looking to upgrade their goalkeeping options.

Spanish newspaper AS reported on Friday that Arsenal are interested in making a move for Real Madrid goalkeeper Iker Casillas, who will once again lead the Spain national team in the upcoming World Cup in Brazil.

According to reports, Arsenal manager Arsene Wenger is looking to acquire Casillas to create a strong competition with Wojciech Szczesny, while pinning his hopes on Santi Carzola, who will reportedly try to convince his fellow Spain international to move to Arsenal next season.

"Arsene Wenger wants the Spain international to compete with Wojciech Szczesny for the Gunners' No.1 jersey next season, and is hoping that Santi Cazorla can encourage Casillas to move to the Emirates Stadium during the World Cup," ESPN FC reported.

Sources indicated that the Gunners are planning to lure Casillas by promising more appearances compared to what he got with Real Madrid last season, but analysts believe that Arsenal is not an attractive destination for Casillas at this point unless they manage to make big signings this summer.

Reports also indicated that Wenger is interested in Willy Caballero of Malaga and Stephane Ruffier of Saint Etienne. The veteran manager also allegedly targeted David Marshall of Cardiff, but their offer was turned down.

Meanwhile, Real Madrid is also planning to make a big move of their own as reports indicated that the Champions League holders are preparing a lucrative deal to acquire Liverpool striker Luis Suarez.

According to sources, Real Madrid president Florentino Suarez has Suarez on top of his list of summer targets, while coach Carlo Ancelotti has also expressed interest in acquiring the Uruguay international, who netted 31 goals in 33 English Premier League games for Arsenal this season.

But acquiring Suarez will be easier said than done as reports indicated that Liverpool will only agree to a sale if offered a world record fee of £80 million, which was the same amount Real Madrid spent to get Gareth Bale last year.

"The Uruguayan bagged an outstanding 31 goals for the Merseysiders last season and although he is happy at Anfield, Real were ready to test the waters," Mirror UK reported. "But they have now been told they will have to cough up £80million to sign him - the same fee they paid for Gareth Bale last summer."