The Bosnia & Herzegovina international will become Arsene Wenger’s first signing of the upcoming transfer window, with the Frenchman prioritising the left-back position as an area he needs to strengthen.
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Kolasinac, who will arrive on a free when his contract at Schalke expires on June 30, was in London two weeks ago for a sponsorship event and underwent medical tests during his short stay in the capital.
Wenger insisted in his pre-match press conference ahead of Sunday's FA Cup semi-final clash against Manchester City that no deal had been agreed for Kolasinac, although Goal understands that the defender will become an Arsenal player once his contract with Schalke expires this summer.
AC Milan, Chelsea, Everton, Juventus and Manchester City have all expressed concrete interested in the 23-year-old who has been involved in eight goals this season - twice as many as in his first four Bundesliga seasons combined.
Known for his marauding runs down the left flank and ability to win one-on-one duels, Kolasinac has made almost 125 senior appearances for Schalke since joining from Stuttgart in 2011 and is likely to become a regular in the Arsenal defence next season, where he can also play in central defence or defensive midfield.
Arsenal are open to offers for Nacho Monreal following a decline in the 31-year-old’s form throughout the current campaign, while second-choice left-back Kieran Gibbs could also leave amidst his contract expiring next summer.
Wenger, whose own contract expires this summer, has yet to confirm whether he’ll be staying on as Arsenal manager although it hasn’t stopped him from making preparations for next season.
The Frenchman has been at Arsenal for 21 years and is expected to sign a two-year contract extension at the end of the campaign.