TERMS AGREED ✅: Arsenal ultimately won the race over Manchester City to sign a £70 million Premier League superstar; papers to be completed this morning pending medical date.

Arsenal blew the cash in the previous summer transfer window, spending an initial £100 million on Declan Rice and £65 million on Kai Havertz, and it looks they intend to do so again next summer.

According to talkSPORT, the Gunners have been made aware of a release clause in Michael Olise’s recently signed new deal at Crystal Palace, which is thought to be worth more than £50 million.

The 22-year-old forward was close to joining Chelsea in the summer after the club activated the £35 million release clause in his previous Palace deal.

Olise is now attracting more suitors ahead of next summer, and the Gunners are keen on recruiting his services.

Arsenal boss Mikel Arteta wants to improve his offense and offer Gabriel Martinelli some competition, and the Frenchman fits the bill.

The Palace star has five goals and an assist in just nine Premier League outings this season, and he will be eager to establish himself when they travel Emirates Stadium to face the Gunners later on Saturday.

Olise piqued Manchester City boss Pep Guardiola’s interest when the two clubs met in March 2023, and Arteta, predictably, wants to sign the winger.

“They have weapons. [Wilfried] Zaha is there, [Michael] Olise, [Eberechi] Eze, they are incredible strikers and they have incredible threat,” Guardiola said concerning the Palace trio at the time.

“They have composure, great attacking players.”