Arsenal boss Arsene Wenger expects a deal for Santi Cazorla wrapped up in the next 48 hours.

The Daily Mail says Wenger expects to complete the club record £15million transfer of Santi Cazorla by Tuesday.

Though Malaga are holding out for £20m, Arsenal hope a debt deadline imposed on the financially-stricken Spanish club will seal the deal.

With Robin van Persie poised to leave, the capture of Cazorla, 27, is the major signing of the summer that Wenger has been promising.

Adding Cazorla to the signings of Lukas Podolski and Olivier Giroud represents the most significant summer strengthening since Arsenal imposed financial constraints on transfers in 2004.