With the plumes of red smoke still fresh in the north London air from Sunday's euphoric trophy parade, Arsenal's attention swiftly turns to building on their Premier League title triumph.

If manager Mikel Arteta needs reminding of how a club's rise can quickly be offset by an unexpected nosedive, he need only look at the difficulties Liverpool faced last season. Arne Slot's sacking at the weekend was a year after lifting the Premier League trophy.

Arteta, whose powerbase at Emirates Stadium has increased after leading the club to their first domestic title in 22 years, has a plan in place - and it is now up to the club to execute the Spaniard's summer blueprint.

Following Saturday's heartbreaking Champions League final defeat by Paris St-Germain, the Gunners boss said there are some "important decisions" to make in order to take the club to the next level.

Here, BBC Sport looks at these key issues in the coming weeks, including a transfer wishlist featuring Aston Villa's Morgan Rogers and Bournemouth's Eli Junior Kroupi.

New deal for Arteta

The priority for Arsenal this summer is to finalise a new contract with Arteta, whose current deal expires at the end of next season.

BBC Sport revealed last month that talks over fresh terms were shelved in order for the club to focus on the end of the campaign.

With Arsenal's historic season now over, the process will pick up again during the summer.

Nothing is expected to be finalised before Arteta returns from holiday.

But it is understood that there was positive progress during initial conversations, amid expectation within the Emirates that it is a case of when, not if, the 44-year-old renews.

Despite this, there remains an air of caution at Arsenal, although club officials are fully focused on reaching a final agreement well before the start of next season.

Sources have told BBC Sport the new contract, which is likely to be a minimum of three years, would be worth a major increase on his current wages.

Arteta earns £10m a season, plus a further £5m upon Champions League qualification.

His new contract would make him the highest-paid manager in England following Pep Guardiola's decision to leave Manchester City.

Guardiola's deal was worth a minimum £20m a season. Arteta would move far closer to his compatriot's earning power.

Recently, Arsenal co-chair Josh Kroenke made clear the club's intention.

"Keeping Mikel around is an utmost priority and I think the good news for Arsenal fans worldwide is he's enjoying the project," said Kroenke.

With that project centred around Arteta's influence, owners Kroenke Sports Entertainment know they will have to commit significant funds to ensure their manager stays on.

And with Arteta's status at an all-time high, the Gunners boss will know his leverage is also at its peak.

Arsenal weigh up incomings, sales and new deals

Arteta has been central to the club's planning for next season with the Gunners targeting a central midfielder, forward and full-back in the transfer market.

But it will not be straightforward.

Given last season's £250m spend on new players, a number of player renewals and lucrative bonuses paid to players in lieu of their Premier League success, the club are mindful of ensuring finances are balanced during the close season.

For the forward position, three players are known to be on the shortlist - Villa's Rogers, Bournemouth's Kroupi and Atletico Madrid's Julian Alvarez.

Rogers and Kroupi are expected to cost in excess of £80m each, while Barcelona target Alvarez is being valued at more than £120m.

Any move for Rogers, Kroupi or Alvarez could be facilitated by exits in forward areas with the club open to offers for Gabriel Jesus, Gabriel Martinelli while Leandro Trossard's deal expires in 12 months.

The future of academy graduate Ethan Nwaneri, who has returned from a loan spell at Marseille, is also unclear with the club giving serious consideration to a homegrown sale this summer, which would represent pure profit on the balance sheet.

Arsenal are also set to listen to offers for Christian Norgaard and Ben White, while Fabio Vieira and Reiss Nelson can also leave. Jakub Kiwior has already been sold to Porto for £14.7m.

A move for Rogers has been discussed, but with Martin Odegaard and Eberechi Eze, who can play in the central attacking areas, already in the squad there have been questions raised over whether a move for the England international is a priority.

Though, with Rogers able to operate from the left, it has been noted that his versatility would be an asset.

The interest in the 23-year-old is genuine, though the Gunners are not the only club in the running for Rogers with Manchester United also monitoring the forward's situation.

Rogers, according to multiple sources, is open to joining Arsenal ahead of next season.

Kroupi is another opportunity Arsenal have explored after the 19-year-old scored 13 times in the Premier League, a record for a teenage debutant.

The club's dream forward signing is Alvarez - though Barcelona have a serious interest in the Argentina attacker.

The club have also moved for Leicester's teenage forward Jeremy Monga, 16, in recent weeks.

Monga is viewed as one of the leading young prospects in English football and has been courted by a host of clubs.

The teenager is understood to be open to joining Arsenal but it is unclear at this stage whether a departure from Leicester would require a tribunal.

Lewis-Skelly re-emergence may halt midfield purchase

The midfield is also complicated.

Given his homegrown status, the club had considered listening to offers for Myles Lewis-Skelly, but his excellent end to the season in his preferred central midfield position has been noted. That could spark a rethink over the 19-year-old's transfer status this summer.

Arsenal have also discussed the merits of a move for West Ham midfielder Mateus Fernandes, who is expected to leave the London club following their relegation to the Championship.

But, while Fernandes and Lewis-Skelly are different types of midfielders, the latter's emergence may hasten a change in approach.

As for full-backs, the club had targeted a versatile option to boost their squad and have looked at Newcastle's Tino Livramento, although the 23-year-old has endured an injury disrupted campaign. This position will be one to watch.

Also on the agenda for Arsenal this summer is to finalise the finer details of a new contract for right-back Jurrien Timber.

BBC Sport revealed the club had started talks over a new deal last season and those discussions are heading towards a conclusion.

The club have also signalled their intention to open talks with key midfielder Declan Rice over a contract extension.

With Arteta's deal - and plans to reward Timber and Rice with renewals - that may be easier said than done.

So, to that end, selling players will be more of a priority this summer.

It also remains to be seen if Arsenal are willing to sacrifice one of their regular first-team players in order to balance their finances. (BBC)

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