Arsenal and Monaco have agreed a €40m (£34.3m) transfer for striker Folarin Balogun to move to the principality.
It is understood that Arsenal have brokered a significant sell-on clause for Balogun. The 22-year-old is expected to have his medical this weekend before completing the move on a long-term deal.
The USA international shone in France last season, scoring 21 goals in 37 appearances during a loan spell at Ligue 1 side Reims. He has also scored seven goals in 13 outings for England Under 21s, but has opted to switch his allegiance to the United States. He has been capped twice by the full American national side.
Another player leaving the Emirates is Kieran Tierney, who is travelling to Spain on Saturday in order to join Real Sociedad on loan. The 26-year-old left-back has fallen down the pecking order at Arsenal after joining from Celtic in 2019.
Meanwhile, West Ham have tied up their deal with Ajax to sign exciting attacker Mohammed Kudus for €45m plus add-ons. A verbal agreement has been struck being the clubs, including a sell-on clause. Kudus will sign a five-year deal, with his medical booked for Saturday. West Ham technical director, Tim Steidten, was pivotal to the deal being completed for the 23-year-old from Ghana.