Arsenal are close to completing the signing of CSKA Moscow midfielder Aleksandr Golovin for a fee in the region of £10m ($13m), according to reports.

The Sunday Mirror says Golovin, 21, will be loaned back to CSKA by the Gunners for one season before joining up with his new teammates at the Emirates Stadium.

Golovin has a contract until 2021 with the Russian club and has also been linked with a move to Premier League champions Chelsea.

If confirmed, he would become Arsenal manager Arsene Wenger's second signing of the summer transfer window after Bosnian left-back Sead Kolasinac.

Golovin scored three goals in 30 appearances to help CSKA finish second in the Russian league in the 2016/17 season.

The 21-year-old was part of the Russian squad that got knocked out of the group stages at Euro 2016. He has been capped 12 times by the national team in total.

Wenger is reported to be willing to break the bank to conclude his transfer business early before the start of pre-season, as he prepares to lead Arsenal for the first time in the Europa League.

The Gunners are understood to have had an ambitious £87m bid rejected by Monaco for young forward Kylian Mbappe.

The amount is more than double the club-record £42.5m Arsenal paid to Real Madrid for Mesut Ozil in 2013.

Aleksandr Golovin
Aleksandr Golovin (far right) is close to joining Arsenal from CSKA Moscow Reuters

The Gunners could face a tough fight to land the 18-year-old French striker, however, with Monaco having made it clear that they intend to hold on to him for at least one more season.

Reports have suggested that Real Madrid had a world-record bid of around £103m rejected for Mbappe in May.

The 18-year-old has insisted that he will be the sole person to make a decision on where he will play next season.

"I will make a choice based on my sporting career, and my career is first and foremost, and I am at an age where I need to play, and that will be paramount," he told beIN Sports.

"I will be the sole decision-maker, and I will not go anywhere where I will be forced to go."