Striker Alexandre Lacazette will sign a five-year contract with Arsenal after the Gunners have reached a £46million agreement with Lyon.
The Daily Star has claimed that the Frenchman will be the one to lead the Arsenal offensive department next season.
An official announcement is expected in the next 72 hours.
Meanwhile, Lyon chief Jean-Michel Aulas has confirmed that the 26-year-old will leave the club this summer.
"Alexandre should have left for Atletico, but that could not be done," Aulas told AFP.
"He wants to leave and we want to keep him, but the decision is not made.
"The case would obviously be the arrival of a player capable of scoring 25 to 30 goals per year. It will be a French international or a player of a very large European club."
