Arsenal reach agreement with Real Madrid for £30m transfer of Martin Odegaard

The Gunners had opened a dialogue with the Spanish giants earlier in the summer over a permanent deal, after Odegaard impressed on loan during the later part of last season.

Boss Mikel Arteta has remained determined to bring in a playmaker and now Sportsmail understands hands have been shaken on a deal worth in the region of £30million (€35m).

The deal is believed to be in the latter stages, with Odegaard primed to link up once again with the senior Arsenal squad in the coming days.

On Wednesday Odegaard was absent from Real Madrid's training session, while the fine print of the deal was being discussed.

Odegaard could feature for Arsenal’s game against London rivals Chelsea on Sunday, though question marks remain over whether the formalities will be completed in time.

Arsenal's move to bring back Odegaard signals an end in their interest in Leicester City star James Maddison.

The Gunners have been linked with the England international for several weeks, though have been unable to bring the Foxes down from their £60m asking price.