According to multiple reports, Chelsea are close to completing the signing of Raphinha from Leeds United after agreeing a fee.
The first sign of Chelsea movement came from Matt Law of the Daily Telegraph who reported Chelsea were giving serious consideration to a bid.
Things progressed quickly from then, with David Ornstein of the Athletic reporting Chelsea were close to agreeing a fee north of £55m with Leeds.
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That fee was agreed in the region of £65m and Chelsea entered negotiations to agree personal terms with Raphinha, a process not yet complete but not expected to cause any issues.
Furthermore, Fabrizio Romano reported that Arsenal had another bid rejected yesterday with their suggested fees not being close to the fee Chelsea ended up agreeing.
Arsenal still have a chance to match the fee agreed by Chelsea with Leeds but the player's preference is believed to be to join a club in the Champions League anyway.
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Raphinha had been a target for a number of weeks for Arsenal, with Mikel Arteta reportedly a big fan.
David Ornstein first reported of Arsenal's first rejected bid last week and of their determination to sign the Brazilian.
However, it was clear Raphinha had preferences over where he wanted to take his career.
Barcelona were his first choice and it was expected he would've joined them if Leeds had been relegated.
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Leeds staying up allowed them more financial security and the ability to demand more money, pricing Barcelona out.
Raphinha's second choice was Chelsea, a club in the Champions League.
Unfortunately Arsenal's pursuit of the Brazilian was always dependant on another club coming in and that is the unfortunate reality Arsenal must face as long as they stay out of the Champions League.
The winger would've likely provided depth and competition to Arsenal's front-line as Arteta looks to add to his attack.
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Known for his superb dribbling and great finishing, Raphinha enjoyed a brilliant season for Leeds despite the club almost getting relegated.
The Brazilian scored 11 goals and was the standout in Leeds' season, playing a huge role in keeping them in the Premier League.
Arsenal will likely move on to other targets now but at this stage it is not clear who their other options are.
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Despite the disappointment of losing out in this saga will be impactful, it's not all doom and gloom for the Gunners. They will look to announce the signing of Gabriel Jesus this week and continue to work on a deal for Lisandro Martinez.
Featured Image Credit: AlamyTopics: Arsenal, Mikel Arteta, Raphinha, Chelsea, Transfers