Real Madrid president Florentino Pérez has sanctioned the sale of Gonzalo Higuain to Arsenal for a fee of £22million..
Higuain has already agreed personal terms with the Gunners and will become the north London club's record signing, subject to a successful medical.
The deal to take the Argentine striker to the Emirates, which will surpass the £15million Arsenal paid for Andrey Arshavin in 2009, represents a significant shift in the club’s transfer policy.
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Arsenal were waiting on Madrid to appoint a new manager and approve the deal but Bernabeu chief Pérez has now decided to give the go-ahead to Higuain's switch before confirming Jose Mourinho's successor.
The 25-year-old also attracted interest from Juventus but wanted to link up with Wenger and is expected to seal his move to the Emirates shortly.