According to BBC Sports, Manchester United midfielder Henrikh Mkhitaryan has agreed a move to Arsenal, with Gunners forward Alexis Sanchez set to go in the opposite direction.
It is a straight swap with no money involved.
The paperwork was completed on Saturday, and Armenia international Mkhitaryan will have a medical on Sunday and Monday.
The length of Mkhitaryan's Arsenal deal, and his salary, is undisclosed.
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