Ornstein: Arsenal, Valencia agree Mustafi fee of £35m, Lucas Pérez medical today

BBC Sport's David Ornstein, a journalist our Transfer Window Primer gave the highest possible reliability and credibility rating of AAA, has once again provided information about upcoming Arsenal transfers, and it's all good news.

Yes, it seems the long-negotiated deal with Valencia for 24-year-old German international center-back Shkodran Mustafi, which was nearly done yesterday according to Ornstein, is indeed done. The quoted fee of £35 million is exorbitant for a defender, but Arsenal were in a position of need and Valencia did not want to sell, so the price was always going to be high. In the end, the fee is less than some reports had said Valencia wanted, so we should likely look at it as a win. We're getting a young but experienced German international who will likely help anchor the back four for years to come. Moreover, I will never, ever say no to more German pals for Mesut. As Ornstein reports, only the formalities remain on the deal - Mustafi is flying to London for a medical and to put pen to paper on a five year deal.

Then, regarding the transfer for Lucas Pérez, which was agreed yesterday for a fee of £17.1 million based on the player’s release clause, there is even more good news. Lucas too will be completing the final formalities before officially becoming a Gunner with his medical being performed today, presumably at Arsenal’s facilities at London Colney. If you still don’t know much about Lucas, who I’ve seen referred to more than once as a Spanish Jamie Vardy, please do check out our preview of the 27-year-old Spaniard.

Combined with a favorable draw in the group stage of the 2016-17 UEFA Champions League, this is turning out to be quite the good week indeed for Arsenal - and there are still rumblings that Arsenal could be in for a bit of magic in the dying days of the transfer window. Will it happen? Probably not, but now that we’ve strengthened it’s more just something fun to hope for, rather than a must-happen. Keep it here for all the information as it develops!

UPDATE 8:26AM EDT:

In case you, for some reason, don’t believe us when we say that Ornstein is super reliable, here’s another confirmation that the Mustafi fee is agreed and he will be an Arsenal player.