Arsenal have reportedly agreed a deal to sign Fabio Vieira from Porto in a transfer worth €40million (£34.13m).
The 22-year-old attacking midfielder is set to travel to London in the coming hours to sign a five-year contract, according to Record.
The deal is believed to be made up of €35m guaranteed with another €5m in ‘achievable’ add-ons.
Vieira has a €50m release clause but Porto have accepted Arsenal’s offer.
He would become Arsenal’s second summer signing after 19-year-old forward Marquinhos, who has joined from Sao Paulo.
Vieira came up through the youth system at Porto and enjoyed an impressive 2021/22 season with seven goals and 16 assists.
He was named player of the tournament at the 2021 European Under-21 Championship.
Arsenal are also chasing Manchester City striker Gabriel Jesus.
The Gunners have seen their forward line depleted as Alexandre Lacazette has left to return to Lyon.
According to the Times, Arsenal are “increasingly confident” over a deal for Jesus.
Their initial bid was reported to be worth up to £30m but they are expected to increase it to get closer to City’s valuation of £50m.
Jesus scored 13 times and provided 12 assists in all competitions for City last season.
Leicester’s Youri Tielemans has also been linked with a move to the Emirates as he enters the final year of his contract.