Vucinic, 30, was expected to move to Serie A side Inter Milan in a swap deal including Fredy Guarin, but this fell through, leaving the way clear for Arsenal to swoop for the attacker.
The striker has been stuck in footballing limbo ever since his Inter move failed to materialise, and is said to have been stunned by the experience.
Arsenal have reportedly been chasing German talent Julian Draxler these past few weeks, and seemed close to securing his signature after a Gunners delegation flew to Germany to negotiate with his club Schalke 04.
It remains to be seen if Arsenal will continue to pursue the 20-year-old if they secure the services of Vucinic, and Wenger could well wait until the summer to make his move.
What do you think, Arsenal fans? Is Vucinic a decent, short term acquisition? Let me know in the comments below…