The 18-year-old has come to an agreement with the Gunners on a five-year deal to move to the Emirates.
All that’s left is negotiations with the Ligue 1 club, who would like a transfer with a one-year loan back to the team for the next campaign.
The Europa League holders are set to make the club legend their new boss.
Chelsea officials are set to make an approach to finalise a deal that would see Frank Lampard succeed Maurizio Sarri in the manager’s hotseat, reports the Express.
The Blues’ all-time top scorer took Derby County to the Championship play-off final last season, where they were defeated 2-1 by Aston Villa, and has been widely touted as the man to replace the Italian.
The club confirmed that Sarri had left his post to join Serie A champions Juventus on Sunday, less than a month after he led them to glory in the Europa League.
Brazilian ace nears Camp Nou exit
Barcelona midfielder Philippe Coutinho favours a move to Chelsea if he leaves Camp Nou this summer, according to the Daily Express.
The 27-year-old is also a target for Paris Saint Germain, but he would prefer to return to the Premier League.
Coutinho endured a frustrating 2018-19 campaign with Barca, only managing to contribute five goals and two assists in 34 La Liga matches.