Arsenal owner Stan Kroenke will meet Real Madrid president Florentino Perez about the possible transfer of Dani Ceballos next week, according to ABC.
The Gunners have made the 22-year-old a priority this summer, facing competition from Tottenham.
Spanish outlet ABC claims Kroenke and Perez will sit down and chat about Ceballos’ future before Madrid play Arsenal in the International Champions Cup.
The pair will discuss a loan move on Wednesday, but it is claimed there will be no option for the Gunners to make the move permanent.
Madrid are looking to keep the Spaniard, but are open for Ceballos to gain first-team football next season at the Emirates.
It is understood Arsenal will agree to pay the player’s wages, with Spurs being snubbed by the former Real Betis man.
Gunners boss Unai Emery has been handed just £45million to work with this summer, and looks to have added Ceballos without majorly denting those funds.