Arsenal are ready to smash their cash ceiling to land Real Madrid striker Gonzalo Higuain. The Mirror says Higuain has agreed to come to Arsenal as the club-record £22million deal nears a conclusion.

Real Madrid striker Higuain and his agent father Jorge are believed to have agreed personal terms in excess of £130,000-a-week as Arsenal prepare to smash their transfer record and wage structure.

The Spanish giants circulated Higuain's name for transfer last month and gave him the green light to negotiate a move away from Real Madrid this summer.

Higuain is keen to move to the Emirates after two rounds of talks with Arsenal boss Arsene Wenger who hopes to wrap up the formalities before the club's Far East tour in three weeks' time.