There is good news and bad for the Gunners in the transfer market.

Although Arsenal's transfer dealings have been quiet so far, the latest reports claim the Gunners are close to making an exciting addition. As per BBC Sport, the English giants have reached an agreement to sign Dani Ceballos.

David Ornstein reports that Arsenal and Real Madrid have struck an agreement and all that's left is to finalize the deal that would see the Spaniard spend the 2019/20 season at the Emirates Stadium. However, his arrival as previously reported will be on a one-year loan spell.

Questions have arisen as to whether the north London giants will secure the option to purchase once his loan comes to an end. However, that doesn't seem to be the case but there have been suggestions that Florentino Perez has promised the club to discuss this issue come next summer.

With Aaron Ramsey gone to Juventus, the inevitable arrival of Ceballos should be a great addition for Unai Emery's side. The Spaniard showcased his brilliance at the U21 Euros, guiding his nation to the title and being named in the Team of the Tournament along the way.

Unfortunately, there does appear to be bad news for Arsenal in the transfer window. The William Saliba deal is all but done, but the Kieran Tierney chase looks to have reached its end. According to John Cross of the Daily Mail, Arsenal are looking at alternatives to the Scottish defensive starlet after failing to reach an agreement with Celtic.

Furthermore, there remains no breakthrough in their Wilfried Zaha pursuit. Crystal Palace have shown no sign of budging with their near $100M valuation, which is a huge roadblock for Arsenal given their limited transfer budget.