Arsenal are believed to be keen to sign Sampdoria midfielder Lucas Torreira.
Italy’s Gazzetta dello Sport said an agreement was reached on Tuesday and Uruguay international Torreira would sign a five-year contract, with the deal worth £26.3million.
The 22-year-old is with his national team, preparing for the World Cup in Russia. Uruguay play Egypt on Friday in their opening game.
Torreira has spent two seasons at Sampdoria, who he joined from fellow Italian side Pescara.
Arsenal and Sampdoria have yet to make any official comment over the reports, but Press Association Sport understands suggestions of a deal having been completed are premature.
New Arsenal head coach Unai Emery is, though, expected to continue to strengthen the squad over the summer.
Swiss defender Stephan Lichtsteiner has already arrived on a free from Juventus, while confirmation of a move for centre-back Sokratis Papastathopoulos from Borussia Dortmund is expected at the start of July.
Leverkusen goalkeeper Bernd Leno is another reported target.
England Under-21 international Ainsley Maitland-Niles has, meanwhile, been handed a new long-term contract.
The promising 20-year-old is a product of the club’s academy and enjoyed a breakthrough season during the last campaign – making a total of 28 first-team appearances.
Maitland-Niles’ performances had caught the eye of Emery ahead of his appointment, and the attack-minded midfielder is keen to make a big impression in the Spaniard’s first campaign.
“It means a lot with the new head coach coming in and Arsenal tying me down. I’m very pleased,” he told Arsenal Player.
We had a little meeting. He said that he wants all of his players to work hard and I’m no stranger to doing that. It will be second nature to me.”
The Gunners continue to reshape the backroom staff following the departure of long-serving manager Arsene Wenger.
Freddie Ljungberg has been appointed as head coach of the Arsenal Under-23 side.
The ex-Gunners midfielder played more than 200 matches for the club and won the Premier League twice in a nine-year spell, part of the Invincibles team which went unbeaten for the 2004 league campaign.
Following a short stint as assistant manager at Wolfsburg, the former Sweden international will formally return to Arsenal next month.
“I’m delighted to be returning to the club,” Ljungberg, 41, said. “Arsenal has always been a special place for me and I’m really excited at this opportunity to work with our under-23 team.
“I look forward to working with the talented young players we have at the club.
“I know many of them well and will work hard to help them continue developing and become the best players and people they can be.”
Atletico said in a statement on their official website: “Atletico de Madrid and AS Monaco have achieved a preliminary agreement over the transfer of Thomas Lemar to our club.
“Over the next days, both clubs will work to close the agreement for the definitive transfer.”
The France international, currently in Russia with Les Bleus for the World Cup, joined Monaco in 2015 from Caen and made his international debut in November 2016.
Monaco echoed Atleti’s statement on their official Twitter feed, saying: “AS Monaco and @Atleti announce that they have found an agreement in principle for the transfer of Thomas Lemar.
“The two clubs will continue to work in the coming days in order to find a definitive agreement.”
Fellow France forward Griezmann says he has decided on his future – but has refused to say whether he will leave Atletico this summer.
With ongoing speculation linking him with Spanish champions Barcelona, Griezmann had said he would confirm his position before France’s World Cup opener against Australia on Saturday.
However, at a national team press conference in Russia, the 27-year-old repeatedly laughed off questions regarding a potential move before claiming he has made up his mind where he will be playing next season.
“The decision has been taken but it is not the time or the place to talk about it,” he said.
“I am very sorry, I know you have all been waiting but I will not give my decision today.”
It is the second successive summer that Griezmann has been the subject of speculation over a big-money switch away from the Rojiblancos.
Last year it was Manchester United who looked to be leading the chase for his services only for Griezmann to end up signing a one-year contract extension with Atletico, tying him to the club until 2022.
His refusal to answer questions on Tuesday means links with Barcelona are sure to continue until any formal announcement is made by either club.
Since joining from Real Sociedad in 2014, Griezmann has scored 112 goals in all competitions for Atletico and finished each season as the club’s top scorer.
He also helped Atletico reach the 2016 Champions League final and scored twice as they beat Marseille 3-0 in last month’s Europa League final.
The La Liga giants have announced that the former Real Madrid Castilla coach will now take over the senior squad.
The move comes as a surprise, with Lopetegui not featuring prominently among the host of managers linked with the role since the departure of Zinedine Zidane days after Madrid’s 3-1 victory over Liverpool in the Champions League final.
Lopetegui, who has been in charge of the national team for the past two years, has agreed a three-year contract at the Bernabeu.