Porto striker Jackson Martinez will leave the club after his £24.7m release clause was met, his agent revealed.
According to Henrique Pompeo, the 28-year-old will play for a new club next season with Arsenal and Liverpool both reported to be interested in the Colombian.
"There is a club that’s willing to pay €35m for the buy-out clause," his agent said.
"The deal will be closed in the next few days."
Roma, Napoli and Milan in the Serie A are also understood to be keen on the striker but only the Giallorossi will feature in next season's Champions League making Arsenal the strong favourites to land the Colombian.