Gonzalo Higuain will complete his move to Arsenal this week after agreeing on personal terms, with the English Premier League side confident that Real Madrid will accept their offer.

The Gunners are expected to make a major overhaul to their squad, as witnessed by the number of releases and expected sales of their fringe players.

Arsene Wenger has been given quite a bit of money to spend and Higuain is thought to be the prime candidate to fill the center forward's position, which after Thierry Henry - and then a brief stint with Robin Van Persie - has never really been filled.

Wenger reportedly met Higuain and his father, who is also his agent, in Paris a while back, and the Argentine international has reportedly given his go-ahead for a move to the Emirates in the summer.

Spanish newspapers Marca and AS claimed Arsenal have made a £25.5 million ($40 million) bid for Higuain, which Real are ready to accept.

However, the Daily Mail and Daily Mirror claim Arsenal are set to bid a little lesser than the £25.5 million ($40 million) -- £22 million ($34.5 million) -- but are equally confident of sealing a move for the 25-year-old, who has made his intentions about leaving Real Madrid in the summer clear.

The positive coming out of the reports is the fact that all of them suggest Arsenal are on the verge of agreeing a deal, with the Daily Mail claiming a move is expected to be completed by the end of the week.

If Arsenal do indeed seal the signing of Higuain, then it will be seen as a major statement of intent and will bring a smile to all the Arsenal fans, who have been craving for a big-money signing for years.

If completed, Higuain will also easily be the record signing for Arsenal, beating the £15 million ($23.5 million) Wenger paid for Andrey Arshavin in January 2009.