Borussia Dortmund have agreed a deal to sign Chelsea forward Michy Batshuayi on loan for the rest of the season, subject to a medical.
The deal could hasten Arsenal’s signing of striker Pierre-Emerick Aubameyang, who Dortmund have said they will only sell if a replacement is found.
Chelsea could sign Olivier Giroud from the Gunners as a replacement for Batshuayi to complete a three-way deal.
The transfer window in England shuts at midnight today.