Xhaka had one year left on his Arsenal contract but will soon be confirmed as a new Bayer Leverkusen signing.
The Bundesliga side, who came sixth in 2022/23, have put together a package totalling €25m to sign the 30-year-old who scored 23 goals in 297 appearances in all competitions for the Gunners.
Having been something of a Gunners pariah at the start of Mikel Arteta’s reign, the Switzerland international has enjoyed the best form of his spell in England during the past two seasons as his side came fifth and second in the Premier League.
Arsenal had been impressed by Xhaka’s attitude during the 2022/23 season and were keen to keep him but the midfielder backed away from talks over a new deal and was later told he could leave north London this summer.
Xhaka had one year left on his Arsenal contract but will soon be confirmed as a new Bayer Leverkusen signing.
The Bundesliga side, who came sixth in 2022/23, have put together a package totalling €25m to sign the 30-year-old who scored 23 goals in 297 appearances in all competitions for the Gunners.
Borussia Dortmund had previously eyed a move for Xhaka as they plan for life without Jude Bellingham, while Borussia Monchengladbach were also keen on reuniting with their former player.
Xhaka will depart as Arsenal plot a major arrival at the Emirates in the form of West Ham and England star Declan Rice.
A payment structure has been agreed between the two clubs which will see Arsenal pay £105m for the Europa Conference League winner, making his the most expensive player in British football history.
Rivals Manchester City had previously tabled a £90m package but withdrew from the bidding when the Gunners usurped them with a nine-figure proposal.
Rice’s arrival would further add to Arsenal’s positive summer so far. Kai Havertz has signed from Chelsea while new contracts have been rewarded to Aaron Ramsdale, Gabriel Magalhaes and Bukayo Saka in recent months.