Arsenal chief Edu has been in Spain this week as he looks to finalise the signing of 28-year-old Real Sociedad midfielder Mikel Merino.
It comes after the Gunners verbally indicated their willingness to pay around £25m for the Spaniard last month, when an agreement appeared imminent. However, progress during talks over payment structure and potential add-ons has since proven slow, even though the Euro 2024 winner already has already reached an agreement on personal terms with Mikel Arteta's Premier League title-chasing side.
But now a deal is on track and there is optimism Merino will join David Raya and Riccardo Calafiori in completing a permanent transfer to the Emirates. Sociedad have spent the best part of 10 days desperately trying to persuade Merino’s midfield partner in crime Martin Zubimendi to remain at the club following an unsuccessful approach from Liverpool.
But the La Liga outfit know they are virtually powerless when it comes to keeping Merino as he has entered the final 12 months of his contract and is not prepared to sign an extension at the Anoeta. Though they will still try to negotiate the best deal possible and will request a high initial payment and an overall fee of up to £30m.
He already rejected an approach from Atletico Madrid earlier in the summer and there’s a sense he has unfinished business in the Premier League after spending the 2017-18 campaign at Newcastle before returning to Spain.
Arsenal may yet have to sell before they buy - or may have to sanction a sale once a deal has been completed - to finance the swoop following the tightening of Premier League PSR rules. While there is no immediate pressure to raise funds, the club want to ensure they maintain a healthy balance sheet moving forward for the benefit of future trading.
Football finance sources outside of Arsenal believe the Gunners were 'well within' PSR limits over the past three years and that is a position the club hope to maintain moving forward, while also continuing to strengthen the squad. Bournemouth remain in talks over the signing of striker Eddie Nketiah, who is the favourite to depart.
The Gunners are attempting to finally usurp Manchester City in the race for the Premier League title, having fell agonisingly short in back-to-back seasons. And Edu has made it clear throughout the summer, that they would only do business to secure players who will genuinely improve their levels.
Speaking at the end of last season, he said: "You can’t sign for the sake of signing. This has to be a process that takes weeks and weeks.
"On my table, I have reports with over 180 pages of a player. It is really detailed. Physical, technical, mental profile – if you have experience of Premier League, if you will be able to adapt. It has it all.
"We analyse our shortcomings, where we can improve, where we can invest and from there we go in search of this new name. What I am going to do now, we have been discussing since January. It is not my decision or Mikel. It’s from a whole group."
Arteta meanwhile, has been candid with supporters and admitted the club are having to act tactically in the market, in order to not fall foul of Profitability and Sustainability regulations. He said last month: "I think you can tell everything is a bit slower.
"I think the market and the new rules in place have caused that clubs are more aware and it’s a bit more delicate to do business in the way we’ve done in the last few seasons.
"We have adapted to that, and we still want to deliver what we want in the transfer window to have a much more competitive team, and improve the squad in every area that we can."