Arsenal are set to complete the signing of Radamel Falcao, as Real Madrid pull out the race to sign the Colombian striker, reports the Metro.
Falcao has been linked with several top European clubs this summer, and it was presumed that Real were due to tie up a deal over the weekend.
However, Carlo Ancelotti will not be pursuing the signature of the Colombia international, leaving Arsenal in pole position to sign him.
Liverpool were also keen on the former Porto man, however opted to sign Mario Balotelli for £16 million from AC Milan instead.
Wenger is looking at a permanent deal for the 28 year old, with Monaco ready to let him leave for around £20 million.
Falcao only signed for the French club in a £47 million fee from Atletico Madrid last summer, but Monaco are ready to let the player, who has just returned from a cruciate ligament injury, depart the club.
By Ben Reardon
@BenReardon1
