Juventus midfielder Felipe Melo has claimed that a European club have made an offer for the star, with a deal set to be completed by the end of the week.
Melo was set for a move to Brazilian side Sao Paolo, but the 28-year-old says an offer came up that was too good to refuse.
"I had already chosen the place to live in Brazil,” Melo said.
"I know that at Sao Paolo I would have been treated with a lot of affection.
"However, I have received an offer from a European club that greatly increases my salary.
"Now we are finalising the details and over the next few days all will be completed."
Arsenal have long been connected with the star, who failed to make an impact at Juventus, with Arsene Wenger reportedly taking a liking to Melo.
Chelsea have also come into the mix, and particularly after the club lost Michael Essien for six months due to injury, Andre Villas-Boas will be looking to build on the Chelsea squad's midfield.
But while Chelsea can boast a larger transfer budget, Arsenal can’t be ruled out of the race just yet, with the Gunners looking to break their trophyless run. Arsenal will no doubt be willing to fork out big dollars if they feel Melo would be a good fit for the squad.