Alexis Sanchez has signed for Manchester United after agreeing terms on his new contract, according to the Daily Mail.
The Chilean forward, who will earn £450,000 per week at Old Trafford, will complete his medical on Saturday evening and be revealed as a new signing shortly afterwards.
Henrikh Mkhitaryan will travel in the other direction, with Arsenal bagging the former Borussia Dortmund player at value of £35 million for Sanchez.
Bordeaux star Malcom has admitted he would relish the chance to play in the Premier League.
The Brazilian has received interest from both Arsenal and Tottenham, who are reportedly keen on recruiting him during the current transfer window.
His club, however, are determined to hold out until the summer before discussing a prospective deal.
Source: Sporting News