will complete a £50m deal for striker Gabriel Jesus in the next seven to ten days, according to reports.
Jesus is open to leaving the Etihad this summer as he looks to become the focal point in a team, having largely played as a back-up striker at Man City.
Tottenham, Chelsea and Real Madrid have also expressed interest in signing Jesus but the say Arsenal have won the race and will seal a deal at the start of next month.
Jesus would become Arsenal’s fourth summer arrival following goalkeeper Matt Turner, forward Marquinhos and midfielder Fabio Vieira, who completed a £34m move from Porto earlier this week.
With the deals for Turner and Marquinhos believed to be worth around £7.5m and £3m respectively, Arsenal’s summer spending will edge closer to £100m once Jesus moves to the Emirates.
Arsenal spent around £150m on new signings last summer but the spending spree did not result in the Gunners securing a return to the Champions League.
Arteta’s side looked on course for a top-four spot for much of the season but fell away at a crucial stage to slip behind north London rivals Tottenham.
Jesus will be Arsenal’s first-choice striker next season following the departures of Pierre-Emerick Aubameyang and Alexandre Lacazette, with Eddie Nketiah another option to lead the line.
Brazil international Jesus has scored 95 goals in 236 appearances for Manchester City and won four Premier League titles since arriving in England five years ago.
Arteta worked with the 25-year-old while he was Pep Guardiola’s assistant at Man City and sanctioned Arsenal’s move for Jesus earlier in the year.
Former Arsenal midfielder and says the Brazilian would be a ‘top, top signing’.
He told talkSPORT: ‘I think he would be a top, top signing. He’s a top striker and he’s obviously played in a top team for many years now.
‘He knows the Premier League so he’s someone who could come in and fit in straight away. With Arsenal’s creative players, he would score a lot of goals.’
After wrapping up a deal for Jesus, Arsenal will turn their attentions to Leicester City midfielder Youri Tielemans, while they have already made a bid for Leeds United winger Raphinha.
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