The Gunners have already announced the signing of Kai Havertz from Chelsea this week in a deal worth more than £65 million, and they have also reached an agreement with West Ham for the British record transfer of Declan Rice, which will cost a total of £105 million.
With a transaction already in place, Timber will have spent more than £200 million.
Timber’s initial €35 million offer from Arsenal came far short of Ajax’s €60 million asking price. The Dutch giants eventually made a compromise, but the Gunners persisted in their confidence.
Arsenal will allegedly pay an initial fee of €42 million, plus a further €5 million. The entire set costs €47 million (£40.5 million).
With personal terms previously agreed upon with Timber’s camp, it may now be possible to finish before the weekend.
Timber’s signing will place him 10th on Arsenal’s all-time list of greatest transfer fees paid, ahead of Alexis Sanchez, Shkodran Mustafi, and Granit Xhaka, but just below Mesut Ozil, Gabriel Jesus, Thomas Partey, and Alexandre Lacazette. Rice’s record arrival is also expected to be confirmed.