Arsenal and Real Madrid are reportedly on the brink of reaching an agreement for the transfer of Norwegian midfielder Martin Odegaard.

The Gunners had been in talks with the Spanish club earlier in the summer over a permanent deal, after Odegaard impressed on loan during the second half of last campaign.

Mikel Arteta has remained determined to bring in a playmaker and now Sportsmail claims hands are about to be shaken on a deal worth £30m.

The deal is believed to be in the latter stages, with Odegaard set to link up once again with the Arsenal squad in the next couple of days.

On Wednesday, Odegaard was absent from Real Madrid’s training, while the deal was being discussed.

Odegaard could even feature for Arsenal’s game against Chelsea on Sunday, though question marks remain over whether it will be completed in time.

Arsenal’s move to bring back Odegaard means an end in their interest in Leicester City playmaker James Maddison.

The Gunners have been linked with the England star for several weeks, though have been unable to bring the Foxes down from their £60m asking price for the player.

Arsenal also continue to be linked to Lyon’s Houssem Aouar, who looks set to finally leave the club this summer in order to ease the burden on mounting finances.