According to Spanish newspaper AS, Arsenal and Real Sociedad have reached an agreement for Mexican striker Carlos Vela.
The deal will conclude with the La Liga side paying Arsenal an alleged €11 million (£8.7m) for 50% of the rights which currently belong to the North Londoners, and eliminating the reported €4m (£3.2m) buy-back clause inserted into the player's contract.
The Mexican international has been with Sociedad for three years, yet after an initial loan spell, the Spanish outfit finalised a €3m (£2.4m) deal with the Gunners to make his transfer permanent.
Rather imprudently Sociedad’s part, however, is that they allowed Arsenal to insert a buy-back clause into his contract and Vela’s progress has left them in a sticky situation.
Over the past two years, the 25-year-old striker has netted 35 goals in all competitions from a wide position, adding a further 22 assists - joining an elite group of players to hit double figures in both goals and assists in a single La Liga campaign.
While Arsenal may not feel that they have a spot for their former player in the current team, from a financial perspective, manager Arsene Wenger could attempt to buy him and later sell him for a much higher price.
The paper goes on to claim that while the clubs can do a deal, Sociedad still face a battle in keeping Vela given recent interest from Spanish champions Atletico Madrid.
The Mexican star has two years remaining on his current contract, and the general consensus is that the club want him to sign a new deal until 2018 while maintaining the reported €30m (£24m) release clause as a safety net for any potential interest in the near future.