Carlo Ancelotti's appointment as Real Madrid manager will reportedly prompt Gonzalo Higuain's departure from the Santiago Bernabeu, with the striker set to secure a transfer to either Arsenal or Juventus.
According to The Independent, Higuain's proposed departure has been held up by Madrid's search for a new manager, with the club waiting until the appointment of Ancelotti before the player's transfer was sanctioned.
Ancelotti is expected to rubber-stamp the sale of the Argentina international, which could even happen within the next 24 hours, with Arsenal and Juventus the two clubs in contention to sign him.
Juventus, however, have also reportedly had their proposal accepted by Higuain, and the club prepared to bid the most money will be the one to capture the 25-year-old from Los Blancos.
Arsenal's record signing remains Andrey Arshavin - released by the club this summer - who signed for £15 million from Zenit St Petersburg in 2009, but are prepared to push beyond the £20 million mark to capture Higuain.
Juve, meanwhile, have also been credited with interest in Manchester City star Carlos Tevez, and the Gunners will be hoping the Italian giants focus on securing his signature rather than that of Higuain.