Manchester United has agreed to sign Alexis Sanchez from Arsenal with Henrikh Mkhitaryan moving in the opposite direction in what would be be a straight swap deal with no money exchanged between the clubs.
United has valued Mkhitaryan at around £35m, the fee Arsenal was demanding for Sanchez.
Sanchez will be United's highest-paid player. Both players set to undergo medicals at their new clubs.
This comes after it had emerged that both players had said their goodbye's to their respective team-mates earlier today.
It is not clear on the duration of Mkhitaryan's contract with the Gunners.
Arsenal manager Arsene Wenger had earlier said Sanchez would only join United if Mkhitaryan moved to Arsenal. The Chilean missed Arsenal's 4-1 win over Crystal Palace on Saturday because he was travelling to Manchester. "He didn't play because you cannot drive up north and play football at the same time," said Wenger.
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