Arsenal legend Thierry Henry is eager to take up their loan offer.
Henry will wear the No 12 shirt. His old No 14 shirt is currently taken by Theo Walcott.
Officials at the Emirates were on Thursday night waiting for the all-clear from his parent club, New York Red Bulls, before completing the paperwork.
But Arsenal are understood to have agreed a suitable insurance package with the Red Bulls and will also cover all of Henry's £70,000-a-week wages.