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Deal agreed: Arsenal set to sell star in £35m+ exit, must complete before 7pm

Arsenal have reportedly reached an agreement with Everton over the signing of Alex Iwobi, in a deal that will cost the Toffees between £35m-£40m.

The 23-year-old came through the youth ranks with the Gunners but has gone on to score just 15 goals in 149 appearances for the Gunners.

SEE MORE: Done deal: Arsenal seal £25m signing, shirt number confirmed for fifth summer arrival

He was used heavily last season by Unai Emery having featured in 51 games, but ultimately it looks as though he could be on his way out of the club on Thursday.

As noted by the ever-reliable BBC Sport reporter David Ornstein, Everton have reached an agreement with Arsenal with a fee between £35m-£40m being touted.

The transfer deadline for English clubs was at 5pm, and so it would appear as though they have missed that and the deal can’t now go through.

However, as explained by Sky Sports reporter Bryan Swanson in his tweet below, clubs can submit a deal sheet before 5pm, which essentially gives them until 7pm to conclude a transfer.

Time will tell if both Arsenal and Everton can get the document sorted in time to seal Iwobi’s exit, but ultimately it appears as though the deal is heading towards a conclusion.

Having signed Nicolas Pepe this summer, the expectation is that the former Lille winger will form a dangerous attacking trident with Pierre-Emerick Aubameyang and Alexandre Lacazette moving forward.

In turn, that pushes Iwobi down the pecking order, and with Everton showing real ambition this summer to strengthen Marco Silva’s squad, it could be a move that suits all parties.

It remains to be seen if the switch goes through as desired with the new deadline in mind, but Iwobi could well find himself turning out for Everton on the opening weekend of the new Premier League campaign instead of Arsenal.

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