Arsenal look set to miss out on Julian Draxler after PSG agreed a fee with Wolfsburg for the 23-year-old, according to L’Equipe.
The French champions will pay an initial €36m, for the Germany international who will move to Parc des Princes in January.
Draxler had earlier admitted that he was in talks with several clubs, with Arsenal reportedly in the hunt for his signature.
“I am in talks with a couple of clubs, but so far no decision has been made,” he told Bild.
“We will all sit down and make a sensible decision that is suitable for us.”
Speculation earlier today in the UK had suggested that Liverpool had joined the race for his signature after Juventus appear to have dropped out of the race.
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However, Draxler will now join Unai Emery’s side and provide support for Edinson Cavani up front.
The Ligue 1 champions certainly need a boost, they have been far from their best this season and are currently third in the table, five points behind leaders Nice.
Draxler will be keen to get his career back on track after a troubled time at Wolfsburg where he eventually found himself dropped after being booed by his own supporters.
While Arsenal were heavily linked with a move for the 23-year-old, it’s difficult to assess how much firm interest there was from the Gunners and where he would have fitted in to the Arsenal team.