Arsenal transfer news: London rivals 'close in' on £35m deal for midfielder

During the early part of Mikel Arteta's reign at the Emirates Stadium, the playmaker was regarded as a key player.

However, across the last two seasons, the England international has accumulated just 616 minutes of football in all competitions.

At a time when Arteta and the Gunners are eager to add to their attacking ranks, Smith Rowe has emerged as the best option when it comes to generating a big-money fee from a sale.

A report earlier this week indicated that Arsenal would only consider a permanent departure if the academy graduate gave the green light to a sale and that a fee was deemed to be suitable.

London rival close in on Smith Rowe

According to journalist David Ornstein of The Athletic, Fulham have signalled to Arsenal that they are willing to finalise a deal in the region of £35m.

The report says that the Cottagers are closing in on an agreement with their compatriots across the capital, with no issues expected with regards to personal terms.

If a transfer goes through, it would represent a record purchase for Fulham and an all-time-high lucrative sale for Arsenal.

Fulham have never paid more than the €30m shelled out for Jean Michael Seri in 2018, while Arsenal's biggest sale is the deal that took Alex Oxlade-Chamberlain to Liverpool for marginally below £35m in 2017.

Who is getting the best deal?

Much will depend on whether Smith Rowe is able to stay fit in the long term. Had that been the case at Arsenal, he would not have been made available for transfer.

From Fulham's perspective, they required a quality attacking addition to help breach the gap to the top 10 in the Premier League. Smith Rowe's versatility is also a bonus.

For Arsenal, though, cashing in on an academy graduate for this amount of money frees up Arteta and sporting director Edu to spend big on a like-for-like replacement or a central-forward.

That particular cause could soon be helped by Reiss Nelson making the switch to Leicester City, initially on loan but with an obligation to buy in 2025.