The 27-year-old forward has been given the green light to travel to London for a medical, after which he is expected to join Mikel Arteta's squad on their pre-season tour of Asia.
The structure of the deal includes a 55.1 million pounds fixed fee, supplemented by 8.7 million pounds in performance-related add-ons. Final discussions around the bonus package extended negotiations for over a week, but a breakthrough was achieved earlier this week.
Sources close to the deal have indicated that Sporting spent much of Wednesday reviewing the final contracts before confirming their satisfaction with the agreement. The Portuguese club are understood to be confident of receiving the full value, with the add-ons considered highly achievable.
In a notable development, Gyokeres' agent is believed to have waived a commission fee of approximately 5.6 million pounds to help facilitate the move.
Arsenal are scheduled to face Newcastle United in Singapore on Sunday, followed by a high-profile clash with Tottenham Hotspur in Hong Kong on Thursday. Arteta is keen to integrate Gyokeres into the squad as swiftly as possible, with the new Premier League season approaching.
Gyokeres, who scored 43 goals across all competitions last season, is expected to offer Arsenal added firepower as they look to challenge for major honours in 2025.
Real Madrid have reportedly set their sights on Arsenal's William Saliba after facing hurdles in their pursuit of Liverpool's Ibrahima Konate, but are finding their transfer ambitions challenged, according to sources in Spain.
Luke Shaw is reportedly open to considering offers this transfer window as doubts grow over his long-term future at Manchester United.
Chelsea have seen their initial bid for Ajax's highly rated young defender Jorrel Hato turned down, according to reports.
Arsenal have strengthened their defensive options with the signing of highly rated centre-back Cristhian Mosquera from Valencia.
