Arsenal are believed to be in advanced negotiation to sign Chile World Cup star Eduardo Vargas from Napoli this week, Metro reports.

The 24-year-old was loaned out by Rafael Benitez to Valencia for half of the previous season and it looks likely that he won’t be part of his manager’s plans for the upcoming season as well.

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According to the Chilean media, Vargas is close to completing the loan move to the Emirates and could be confirmed as soon as this Wednesday.

It is said that his agent is currently in London negotiating personal terms as well as setting arrangements for a potential medical to seal his switch to the English Premier League.

Valencia are also monitoring the situation of the Chilean forward as they are also hoping they can sign him on loan again after he netted three goals in 17 appearances for the La Liga club.

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