Everton have agreed to sign forward Alex Iwobi from Arsenal in a deal worth up to £34m.
Iwobi came through the ranks at the Gunners, playing 149 times and scoring 15 goals.
The Nigeria forward is Marco Silva’s seventh summer signing.
Iwobi will join fellow new arrivals goalkeeper Jonas Lossl, defender Djibril Sidibe, midfielders Andre Gomes, Fabian Delph and Jean-Philippe Gbamin, and striker Moise Kean.
Everton had an initial bid of £30m turned down but their improved offer – reported to be an initial £28m, rising to £34m with potential add-ons – has been accepted by Arsenal.
The player is undergoing a medical in London, but a deal sheet was submitted by the 17:00 BST deadline and the transfer should be completed without a problem by the extended cut-off time of 19:00.
Iwobi featured regularly last season under manager Unai Emery, appearing in all but three Premier League games, and he scored in the Europa League final defeat by Chelsea in what was his last appearance for the club.
There is increased competition in Iwobi’s position at Arsenal following the arrival of Nicolas Pepe from Lille this summer for a club record £72m.
Iwobi now begins a new chapter of his career at Everton, as the Toffees target an improvement on last season’s eighth place finish.
In an attempt to do that, Silva has reshaped his squad over the summer with seven arrivals and nine permanent departures.