Arsene Wenger's side have been the clear favourites to land the winger, and players from the Spanish club have already started saying goodbye to the European Championship winnerArsenal target Santi Cazorla has already been sold, according to his Malaga team-mate Enzo Maresca, with the Premier League side clear favourites to complete his signing.
The Spanish club announced they were undergoing "internal restructuring", with owner Sheikh Abdullah Bin Nassar Al-Thani reportedly keen to sell the team after only two years in charge.
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Coach Manuel Pellegrini could be set for an exit, with Cazorla expected to leave along with Venezuelan striker Salomon Rondon, and Maresca revealed that while all three are "fundamental" to the side, the two players are definitely leaving.
"[Pellegrini] is fundamental for us, just as Cazorla and Rondon were fundamental and who have been sold," Maresca told reporters after the club's 2-0 friendly defeat to Juventus.
Meanwhile, former Gunners player Julio Baptista, who is currently playing for Malaga, stated on Twitter that he is sad to see the pair leave.
"I'd like to send a greeting to my two companions who were, Santi Cazorla and a big hug Salomon Rondon will miss you," Baptista tweeted.
Arsenal are still favourites to sign the Spanish star, who returned from international duty with a Euro 2012 winners' medal this summer, and are confident of overcoming a late snag in the deal and signing the 27-year-old during the week.