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Owners are approaching an agreement with the leaders of the London team, according to which 'Gunners' star Samir Nasri will move to an Arab-owned club for £20 million, sources from "Sky Sports" report.
It is also said that the 'cityzens' who made their way into the UEFA Champions League tournament will also acquire the left-back defender Gael Clichy from the capital team.
The French national team player Nasri, whose contract with Arsenal is valid until June 30, 2012, is being chased by many European giants.
Manchester United were considered the main contenders to buy the 24-year-old footballer, but local rivals Manchester City have surged ahead in the race for Nasri's signature.
Roberto Mancini would also like to see Arsenal's defender Clichy among his ranks. It is believed that the transfer costing £7 million should take place in the near future.
This means that Arsenal's manager Arsene Wenger may have to cope without some of the team's key pillars next season, as it is expected that 'Gunners' captain Cesc Fabregas will move to Barcelona this summer.
