The Gunners are hoping to seal a deal for a new player this week in the person of, Dani Ceballos.
Coach Unai Emery took interest in the 22-year-old midfielder, who he sees as a replacement for Aaron Ramsey, who joined Juventus last season.
Emery was also able to convince Dani Ceballos to move to Arsenal instead of joining Tottenham Hotspurs, who have shown interest as well.
Another report from Spain says the midfielder favours a move to Arsenal FC because he would get more playing chance under the former PSG coach.
It is reported that the Premier League club and Real Madrid held closed-door meetings on Tuesday, which continued on Wednesday.
The report added Arsenal could sign Dani Ceballos on loan in the ongoing transfer window but Real Madrid have refused to add a buy out clause to the deal.
On the other hand, Ceballos is reportedly eager to sign a contract with Arsenal this week rather than travel with the Los Blancos to the United States on July 23rd when they will play against the Premier League side in the Preseason tour.
This deal looks like one that would happen as top publication are already reporting that Arsenal are confident of reaching an agreement this week.