Manchester City will announce the signing of Arsenal attacking midfielder Alexis Sanchez in the "coming days", journalist Gerard Romero has written on Twitter.
It is unlikely manager Arsene Wenger will allow his best player to join a Premier League rival but he wouldn't be the first player to leave the Gunners to join the Citizens.
Gael Clichy, Emmanuel Adebayor, Bacary Sagna, Kolo Toure and Samir Nasri have all made the move in recent seasons.
Bayern Munich are also interested with Arturo Vidal urging his Chile team-mate to leave the Premier League to join him in the Bundesliga.
Last week, Wenger made it clear that his primary objective this summer is to extend the contract of the 28-year-old and that of Mesut Ozil.
"This summer, first of all they will stay at the club and hopefully we can extend their contract," Wenger told beIN SPORTS.
"No [they will not be sold].
"You cannot weaken the club and weaken the team. You want to strengthen the team. Unless you find a player of the same calibre and if they absolutely want to leave.
"I believe, at the moment, we're not on that front. We're focused on keeping the team together and to see how we can strengthen the team."