Francis Coquelin is set to complete a transfer to Valencia, Arsenal manager Arsene Wenger announced after the first leg of the EFL Cup semi-final on Tuesday.
Valencia had teased Coquelin's impending arrival by posting a picture of a suitcase adorned with the midfielder's initials to their Twitter account .
Goal has previously reported that the Spanish side would prefer a loan agreement with a purchase option , but the move is now understood to be a permanent one valued at £10.5 million.
And after holding Chelsea to a 0-0 draw on Wednesday, Wenger confirmed the 26-year-old is on his way out of Arsenal.