David Ornstein confirmed this week that Arsenal were stepping up efforts to sign Merino, with talks ongoing and Edu Gaspar travelling to Spain to pursue an agreement.
Ornstein added that Arsenal were confident of a positive resolution, with Merino himself keen to join and personal terms not thought to be an issue.
Sociedad offered Merino a new contract to try and convince him to stay, but his representatives made it clear that he wants to join Arsenal.
Merino made 45 appearances for Sociedad last season, scoring eight goals and assisting a further five. He then joined up with Spain on international duty, featuring throughout Euro 2024 as his team ended up winning the trophy.