Everton have agreed a fee with Arsenal for the signature of Alex Iwobi and are now racing against the clock to do the deal, according to the BBC.
Arsenal rejected a £30m offer from Everton for Iwobi on Wednesday, but have now settled for a fee claimed to be in the region of £35m to £40m.
The winger has also been open to a move to Everton, without agitating for one, if the two clubs could work out an agreement between themselves.
Arsenal have been waiting all day for an improved bid from Everton and it seems with just a few minutes left, the Toffees are again moving on the Nigeria international and have offered acceptable terms.
They now have an agreement in place with the Gunners and are closing in on taking him to Goodison Park.
The deal is expected to go through, but Everton only have a limited amount of time to finalise Iwobi's capture.
Everton will have to quickly agree personal terms and do a medical, pushing the deal over the line to end Iwobi's Arsenal spell.
The Toffees are expected to have submitted a deal sheet to the Premier League to buy themselves another two hours to complete the deal.
