Lille president Gerard Lopez claims Nicolas Pepe will be an Arsenal player “with the next 24 hours” and confirmed he will move for a £72m fee.
Either club has still not officially confirmed the deal, but it will only be a matter of time.
Pepe had been linked with a move to the likes of Liverpool and Manchester United before his reported move to Arsenal.
"I think it should be done in the next 24 hours," Lopez told RMC Sport . "It is €80m fixed, plus some other details. In talking with Nico and his agents, things focused on the certain clubs that we wanted to focus on, the two projects that interested the player."
The Ivory Coast international scored 22 goals in Ligue 1 last year.