Madrid - Real Madrid midfielder Dani Ceballos is close to joining Arsenal on a season-long loan, Spanish media reported on Tuesday.
Newspaper Marca said the 22-year-old would head to north London "without an option to buy", and the Gunners "would be responsible for 100 percent of the player's salary, which is about €3 million ($3.36 million)."
Ceballos has also been linked with AC Milan and Arsenal's local rivals Tottenham, who reportedly want to buy him.
Marca said Unai Emery's side are awaiting a final decision from Real.
Ceballos was voted the player of 2017 European U-21 championship and was picked on the team of the tournament at this year's edition which Spain won.
"He understands that he will have limited opportunities under Zinedine Zidane," wrote Spanish sports daily Marca.
Another Spanish sports newspaper, AS, wrote: "Madrid need to trim the fat from a bloated squad and are looking to shift at least five players before the season starts."
Both papers reported Ceballos, who started his career at Sevilla, likes the idea of playing in London and was swayed by the interest shown by Gunners boss Emery, who managed Sevilla after the player had joined local rivals Betis.