The deal is expected to be finalized in the coming hours as both Los Blancos and the Gunners have agreed to a season-long loan deal for the Spanish international.
The North London based club beat Spurs, Sevilla, and AC Milan to land the 22-year-old from Real Madrid.
Reports suggest from ESPN suggests Unai Emery played an integral part in the decision of under-21 European Champion who snubbed several clubs.
The Spanish manager has been a long admirer of the youngster and will now have the player in his team.
Earlier, Unai Emery praised Ceballos for his versatility and believes he would a great addition to his squad.
“We are speaking about the possibility to sign one player,” Emery said ahead of his side’s final International Champions Cup match against Real in Washington D.C on Tuesday. “We have different names and the club is working on that.
“Ceballos is a very good player. I know him from [Real] Betis at the beginning and Real Madrid,” he added of Ceballos, who started out at Betis before moving to Madrid in 2017.
“He played very well in the Under-21s [for Spain], his national team won the [2019 European Championship] competition. He can play as a No. 8 or a No. 10.”
“Progressively we are using fewer minutes [for youngsters] and to share with the experienced players,” he added.
“Tomorrow at the beginning I want to take more minutes with players thinking ahead for the match against Newcastle
The Gunners initially wanted the option to buy the Spaniard after the season-long loan but both teams have reached the resolve to only a loan deal without the option to buy.
Ceballos who joined the Spanish giants in 2017 from Real Betis has not been able to establish himself in the Madrid set up and a loan deal looks the ideal plan for all parties involved (the player and both clubs).
The Spanish international will have his medical at Colney as soon as possible and will join the first team on their preseason tour in the U.S.
