Wenger wants another keeper to provide competition to Wojciech Szczesny, 23, and Lukasz Fabianski, 28.
The Gunners boss was set to land QPR’s No.1 Cesar, 33, for £1million but the keeper could now be on his way to the Serie A outfit.
That has put Newcastle’s Krul in Wenger’s thoughts and the Frenchman is considering a £6m bid.
Holland international Krul, 25, signed a five-year deal with the Magpies last year but could be tempted by Champions League football.
Wenger is also tracking AC Milan defender Ignazio Abate and has the full-back pencilled in to replace Bacary Sagna if he leaves for PSG or Monaco.
Frenchman Sagna, 30, is in talks with the Gunners over a new deal but Arsenal rarely offer long-term contracts to players his age or older.
Milan want to keep Abate, 26, who has a year left on his deal but he fancies the Premier League.“Holland international Krul, 25, signed a five-year deal with the Magpies last year but could be tempted by Champions League football”
Wenger is also poised to unveil teen sensation Gedion Zelalem today, with the talented youngster being hailed as the new Cesc Fabregas.
His former coach Matt Pilkington said of his German wonderkid: “You don’t often see such balance, vision and ideas in kids of Zelalem’s age.
“Gedion will be in Arsenal’s first team three years from now.”