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The clubs have been locked in talks since the weekend with the 32-year-old flying into Catalonia this morning in an attempt to push through a deal.
The club were keen to offload Aubameyang’s wage — which starts at £250,000-a-week — after a deterioration in his relationship with manager Mikel Arteta, having been stripped of the captaincy in December following a series of disciplinary issues before being left behind as the first-team squad travelled to Dubai for a winter training break earlier this month.
Barca’s financial troubles are well documented and they told the north London club that they could only pay a small portion of Aubameyang’s wage in any loan agreement.
But after talks threatened to collapse on Monday, the two sides later found a compromise where Aubameyang signs on a free transfer, meaning Arsenal are rid of his wage for good and Barcelona get their man.
It is unclear at this stage if Aubameyang has taken a pay cut to seal the move — as has been suggested — but he was facing up to another spell in the wilderness had he stayed in north London.
Aubameyang has not played for the club since Dec. 6 and was sent home from the Africa Cup of Nations after medical tests had shown he had cardiac lesions. He had previously tested positive for COVID-19 upon arriving in Cameroon for the tournament.
Sources previously told ESPN that Juventus striker Alvaro Morata, on loan from Atletico Madrid, was Barca’s primary target to fix their goal-scoring issues, but Aubameyang became their focus after a deal for the Spain striker did not materialise.