The 24-year-old has attracted significant interest from some of Europe’s biggest clubs following some impressive outings for the French club last season.
Pepe scored 23 goals and laid on 12 assists for his teammates in all competitions last season as Lille qualified for the 2019/2020 UEFA Champions League.
Pepe has been linked with the likes of Manchester United and Liverpool, but Napoli were thought to be close to signing the winger after holding talks with his agent within the week.
However, after agreeing a fee with Lille, Pepe’s agent grew dissatisfied with the terms Napoli offered his client allowing Arsenal to pounce and take advantage.
Arsenal have reportedly agreed a deal with Lille after presenting better terms to Pepe’s representatives which have been accepted and the transfer can be completed in the next 48 hours.
Arsenal’s strict transfer budget means they will not pay the full amount upfront but the payment will be done in installments.
The Gunners are on the market for a winger as they had a £40m bid rejected for Pepe’s international teammate Wilfried Zaha by Crystal Palace while Barcelona’s Malcom has also been identified.
Pepe will become Arsenal’s most expensive signing ever should the deal go through, trumping the £55m they paid to sign Pierre-Emerick Aubameyang from Borussia Dortmund in January 2018.
