The Gunners are hopeful of wrapping up the signing of the in-demand Chile star ahead of Liverpool, Manchester United and Juventus, with further talks scheduled over the coming days.
Barcelona have accepted a bid of €40 million from Arsenal for Alexis Sanchez, Goal understands.
The Gunners will now try to wrap up the transfer of the in-demand forward with further talks in the next 48 hours aimed at convincing the player to choose a move to Emirates Stadium ahead of his other suitors.
Sources have told Goal that the financial package offered to Alexis has been agreed in principle by the player and his representatives.
Arsenal will attempt to clinch the signing by obtaining an official agreement from the Chile World Cup star, with the possibility growing that a deal could be finalised in the coming week.
The indications from the player's camp during negotiations are that he wants to move to Arsenal ahead of Manchester United, Liverpool and Juventus, who have all tabled offers to the Chilean.