Arsenal close to completing €40 million transfer of Borussia Monchengladbach midfielder, Granit Xhaka

Max Eberl (L) and Granit Xhaka (R) admit that there is interest from other European clubs

Arsenal are close to signing Swiss international Granit Xhaka from Borussia Monchengladbach, report Kicker. The Gunners are on the lookout for a defensive midfielder and have identified the 23-year-old as someone who could improve the team as they continue to search for their first Premier League title since 2004.

The report states that while Arsenal could've signed him earlier, the club – and Arsene Wenger – were waiting till they could confirm they had a seat in next season's UEFA Champions League. The Swiss international was apparently adamant of ensuring he could play in Europe's top competition.

Borussia Monchengladbach are holding out for an offer in the range of €40 million – €45 million with the Gunners reportedly have offered a bid in the region of €30 million. With no report of any release clause as such, the clubs are said to still be in an active negotiation mode.

Speaking to reporters a few days ago, Xhaka said, “What happens is not entirely down to me. I can only say that I am really happy here. Until today, no offer has been made.

"Should something come up, we'd possibly sit down & decide what happens. And if nothing comes up, everything fits here at Borussia.”

Monchengladbach's Director of Football, Max Eberl, also admitted that they might lose the Swiss international this summer. "We will fight for Granit. There are clubs who can offer an even bigger chance of playing CL and competing for titles and trophies,” he said.

With Arsenal losing Mathieu Flamini, Mikel Arteta and Tomas Rosicky at the end of the season, new signings were expected as well as ensuring a host of youth products get promoted to the first team and with Arsene Wenger confirming that there wouldn't be 'too much activity' in the transfer window, its likely that Xhaka could be one of Arsenal's two or three signings.

Reliable football journalist and insider, Raphael Honigstein, also believes Arsenal have almost clinched the Swiss defensive midfielder.

The club are also interesting in signing a 'top quality' striker with the likes of Alvaro Morata, Romelulu Lukaku and Vincent Jannsen. With Theo Walcott and Alex Oxlade-Chamberlain facing possible exits, there's enough room in the Arsenal 25-man-list to accommodate the striker they crave.

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