Chelsea goalkeeper Kepa Arrizabalaga has agreed to join Arsenal and the Gunners will have to pay the £5 million release clause in his deal, according to The Athletic journalist David Ornstein.
The 30-year-old will be moving to the North London club as a cover and competition for David Raya, but he is ready to give his fellow Spaniard a run for the money.
Arrizabalaga joined Chelsea from Athletic Bilbao in 2018 for £72m, becoming the most expensive goalkeeper in the world and winning the Champions League with them in 2020-21.
Arsenal are getting a quality number 2 in the Spain international, and he brings plenty of experience and quality to the table after making 31 Premier League appearances last term on loan at Bournemouth.
He was at Real Madrid in 2023-24, winning the Champions League, La Liga title and Spanish Super Cup with them, and he is coming to the Gunners dressing room with the mentality of a winner having also won the Europa League, UEFA Super Cup and FIFA Club World Cup with the Blues.
Neto has returned to Bournemouth after his loan spell ended, and the North London club wanted Espanyol goalie Joan Garcia to replace him, but he has since opted to join Barcelona.
It is safe to say Arrizabalaga is an upgrade on him given his English top-flight experience, and Arsenal will have to choose between Karl Hein (who has returned from his loan with Real Valladolid), 19-year-old Tommy Setford and 16-year-old Jack Porter for the role of third-choice goalkeeper.
The Gunners have sorted out a key position for next season and will now concentrate on completing the deal for Real Sociedad midfielder Martin Zubimendi before looking to sign a new number 9, a left winger and a versatile defender.