Arsenal have agreed a deal for Lucas Perez by offering to pay his €20m release fee however the total cost of the deal, excluding wages, will be €24.2m as Arsenal have to pay the VAT as well.

Of the transfer fee, 30% will go back to his former club, PAOK (€6m), a further €3.5m will be paid to the Treasury meaning that Deportivo will pocket just €10.5m for their striker.

Superdeporte claim that the player has yet to agree terms with Arsenal after the clubs found an agreement. His agent, Rodrigo Fernandez Lovelle, was awaiting permission from the Spanish side before embarking on negotiations.

The Spanish site also claim that Depor turned down Arsenal’s first offer and were trying everything to get their player to stay, with rumours they had even offered him a seven-year deal appearing on Thursday morning.

Superdeporte do not expect Perez to be with the squad for tomorrow’s game against Betis.