Arsenal have agreed a £42.4m (50m euros) deal with Real Madrid to sign Germany midfielder Mesut Ozil.
The 24-year-old has agreed personal terms but must have a medical before Arsenal can complete what would be a club-record signing.
Ozil is on international duty and the medical will take place in Germany.
Arsenal are also in talks with Chelsea to sign 28-year-old striker Demba Ba on a season-long loan and want Palermo goalkeeper Emiliano Viviano, 27.
The Gunners have failed in high-profile attempts to sign Liverpool striker Luis Suarez and Gonzalo Higuain, another Real Madrid player, this summer.
But they are close to capturing Ozil after Gareth Bale's world-record £85.3m switch from Tottenham to Real triggered further deals on the final day of the transfer window.
Ozil joined Real from Werder Bremen three years ago for a fee believed to be about £12.4m and has played 155 times for the club.
Ahead of the transfer deadline at 23:00 BST on Monday, Arsenal manager Arsene Wenger has made only two signings - striker Yaya Sanogo, 20, and midfielder Mathieu Flamini, 29, arriving on free transfers.
But the signing of Ozil, who helped Real win La Liga in 2011-12 and was named in Uefa's team of the tournament at Euro 2012, would deliver a signal of intent to the Gunners' Premier League rivals.