According to what i have read, Llorenthe is looking for a move. He is also stalling on signing a new contract with Ath Bilbao. With most clubs bankrupt, Malaga disaster etc, I think La Liga is gonna go bust at this rate. Infact wenger has been going on about it for quite some time and i would say he was smart to move quickly for Cazorla.
It would not be a bad time to shop for players or even skilled youngsters in spain.
Unrelated but when you see this summers PL transfers and whats going on in Spain, any arsenal fan should feel respect and gratitude towards Wenger. Barring the dirty rusiian and arab seeded clubs we are a rare club with money.