Arsene Wenger will revive his interest in Liverpool midfielder Xabi Alonso after losing captain Cesc Fabregas for four months with knee ligament damage.

Standard Sport understands Arsenal made a £14million deadline day bid for the Spaniard in August but Wenger refused to meet the Anfield club's valuation of £17m.

The Gunners manager is notoriously reluctant to spend big money but the fact an offer was
made at all reveals that, privately at least, there is an admission that the midfield needs to be strengthened.

That feeling will only be exacerbated by
Fabregas's absence, the result of a tackle with Alonso during Sunday's 1-1 draw with Premier League leaders Liverpool.

New chief executive Ivan Gazidis will formally join Arsenal on 1 January and brings with him great experience in player contract negotiations from America.

A source close to the board blamed the club's failure to land Alonso in August on the delay in naming a successor to David Dein, who departed as chief executive last year.

The source said: “Hopefully Gazidis can come in and recognise that Wenger needs someone like Dein in his ear to reassure him that the money is there to spend.”

Alonso is close friends with Spain team-mate Fabregas, who said in the summer that Alonso's possible arrival in London “would be perfect — I'd love it”.

Inaki Ibanez, Alonso's agent, had previously insisted his client would leave Liverpool in the summer after becoming frustrated with a lack of first-team football, having only a year earlier signed a deal to stay until 2012.

Subsequently, Alonso has become a key part of Rafa Benitez's side but Ibanez left the door open to a move by stating ambiguously: “We will see what happens in January.”

Should Liverpool wish to do business, the asking price may be lowered as Alonso would be cup-tied in Europe having played in the Champions League.

Other Arsenal targets include Yaya Toure, the Barcelona midfield player, Juventus youngster Sebastian Giovinco and Stephane Mbia, of Rennes, who claims to have been the subject of a failed 11th-hour bid from Arsenal in August.