Knight and manager Russell Slade were at Arsenal Under-18s' 1-0 win over Spurs in the Premier Academy League play-off and are hoping to sign at least one youngster on a long-term loan.
Albion have good links with the Arsenal youth set-up where former manager Liam Brady is now Academy manager and former defender Steve Gatting now a youth coach.
"We have a good relationship with Arsenal," Knight told the Argus.
"We have identified a couple of Arsenal boys we have very much got our eyes on and we are looking to move quickly."
On further signings, Knight added: "We have started talks with a Championship club and another club in our division and we are identifying initial targets. We have hit the ground running."