Fabio Vieira has been sold to Arsenal for a sum that could rise to €40 million (£34.26 million).
On Thursday, The Athletic claimed that the 22-year-old was close to joining Arsenal, and yesterday evening, Vieira flew to London to sign a five-year deal.
An announcement will be made soon.
Porto said in a statement released to the Portuguese stock market: “(Porto), under the terms of article 248 n1 of the Securities Code, hereby informs the market that it has reached an agreement with Arsenal FC for the assignment, on a definitive basis, of the sports registration rights of professional football player Fabio Vieira for 40M (forty million euros), of which 5M (five million euros) are dependent on the achievement of sporting objectives.
“It is further informed that the final agreement is still being finalized and is expected to be implemented in the next few days.”
Vieira featured in 39 games for Porto this season, scoring seven goals and assisting on 16 others.
He's also capable of playing as a false nine or central midfielder, and he's a frequent starter for Portugal's Under-21 side.
Arsenal will pay €35 million (£30 million) upfront, with add-ons of up to €5 million (£4.26 million) possible.