Arsenal are hoping that Martin Odegaard could be signed in time to play against Chelsea this weekend after they reached an agreement with Real Madrid to bring the playmaker back to the Emirates Stadium on a permanent basis.

Arsenal will pay around £30 million (€35m) for the 22-year-old, who spent the second half of last season on loan at the club and quickly became one of Mikel Arteta’s key attacking players.

Arteta made it clear at the end of last season that he wanted the Norwegian to return to north London, although it was initially feared Real would not be willing to sell a player they first signed as a 16-year-old.

Odegaard would have to be registered by midday tomorrow to be available to play against Chelsea on Sunday. With plenty of paperwork and the finer details still to be sorted, it is expected to be tight.

Odegaard’s arrival will give Arteta more options in the attacking midfield area and allow the Spaniard to build on the club’s promising end to the previous season. Odegaard and Emile Smith Rowe will be the primary candidates for the No 10 position, although they showed last year that they can play alongside each other.

Arsenal are also on the verge of sealing a move for goalkeeper Aaron Ramsdale, who was left out of Sheffield United’s Championship trip to West Bromwich Albion last night. The 23-year-old goalkeeper is expected to sign a long-term contract on a deal thought to be worth around £25  million (€29m).

They will join Ben White (aged 23), Albert Sambi Lokonga (21) and Nuno Tavares (21) as the summer signings.

Telegraph Media Group Limited [2021]