Valencia owner Peter Lim has reportedly travelled to England to complete the deal.
German playmaker failed to hit the heights as Gunners lost to Stoke City on Saturday (19 August).
Arsenal lost their first away game of the season against Stoke.
Paris Saint-Germain will allow Draxler to leave for a transfer fee of around £32m, reports say.
Bjorn Engels has come up through the youth system at Club Brugge.
Pep Guardiola will pursue Sanchez until the transfer window closes, according to reports.
Asensio's current deal at Real runs down in 2022 and earns £3.2m-a-year.
Jese Rodriguez has a dream debut after scoring the winner.
Perez made only 2 league starts for Arsenal last season.
Barry completed a move to West Brom after four years at Everton.
Brazilian centre-back has penned a five-year contract in Spain that includes an €80m buyout clause.
La Roja head coach Juan Antonio Pizzi expects in-demand talisman to be available for World Cup qualifiers.
Spain Under-21 international spent last season on loan at Alaves.
23-year-old has served as Los Blancos' third-choice 'keeper during the last two seasons.
Hughes revealed Ngoy has suffered a thigh injury and will be out for up to six weeks.
Coutinho may cost north of £100m - even if Liverpool decide to sell.
Gabriel joined Arsenal from Villarreal during the January transfer window in 2015.
The Gunners have seen a number of bids for the Monaco star rejected this summer.
England international has entered the final 12 months of his contract at The Emirates.
Billionaire Aliko Dangote says the first change he would make in north London would be to install a new manager.
Koeman has made a host of new signings but is far from finished in the transfer market this summer.
Gabriel joined Arsenal from Villarreal during the 2015 January transfer window.