Arsenal and Everton have reached agreement over the transfer of Nigerian forward, Alex Iwobi for £40m.
Iwobi who came through the ranks at the Gunners, playing 149 times and scoring 15 goals has become Marco Silva’s seventh signing of the summer.
He will join fellow new arrivals goalkeeper Jonas Lossl, defender Djibril Sidibe, midfielders Andre Gomes, Fabian Delph and Jean-Philippe Gbamin, and striker Moise Kean.
Everton had an initial bid of £30m turned down but their improved offer has been accepted by Arsenal.
Alex Iwobi featured regularly last season under manager Unai Emery, appearing in all but three Premier League games, and he scored in the Europa League final defeat by Chelsea in what was his last appearance for the club.
There is increased competition in Iwobi’s position at Arsenal following the arrival of Nicolas Pepe from Lille this summer for a club record £72m.