Arsenal have agreed to sell Alex Iwobi to Everton, talkSPORT understands.
The transfer fee could potentially reach £40million and brings an end to his long association with the club.
Iwobi joined the club's academy when he was nine and broke into the first team under Arsene Wenger in 2015. He signed a new long term contract last summer, but both player and club feel it is best to part company.
The 23-year-old made 35 Premier League appearances last season, but faced the difficult task of cementing a spot in Unai Emery's first-team this season due to the arrivals of Dani Ceballos from Real Madrid and Nicolas Pepe from Lille.
Arsenal had initially rejected a £30m approach from Everton, but have accepted an improved offer for the Nigeria international, with the Toffees missing out on Wilfried Zaha.
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