'Agreement reached' - Arsenal and Chelsea beaten to 'incredible' £46m transfer

Arsenal and Chelsea have been beaten to the signing of Euro 2024 star Dani Olmo with Barcelona reaching an agreement to sign the midfielder.

The RB Leipzig player has been the centre of transfer activity this summer following an impressive campaign for the Spanish national side in Germany, helping the country lift the trophy. Olmo scored three goals and picked up two assists as he played a vital role for Luis de la Fuente's men.

London rivals Chelsea and Arsenal had both been linked with interest in the player ahead of the 2024/25 Premier League campaign. Manchester United and Manchester City had also been named as potential suitors at points during the transfer window - Pep Guardiola once named Olmo as an 'incredible player' with a 'bright future' five years ago, when first linked with a move to the Cityzens from Dinamo Zagreb.

However, it is Catalan giants Barcelona who appear to have won the race for Olmo's signature. Transfer guru Fabrizio Romano took to social media platform X on Thursday to report that personal terms have been agreed with the winger.

Barcelona must now formalise the structure of the transfer with RB Leipzig. A €55 million fee, around £46 million, is 'guaranteed' with €7 million of add-ons expected to boost that price. Romano adds that Olmo 'strongly wants' the move to Barcelona, despite interest from the Premier League outfits.

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The Leipzig man previously had a £50 million release clause in his contract, but that is believed to have expired on July 20. Olmo would sign a six-year deal with Hansi Flick's side.

Nico Williams had emerged as a priority transfer target for Barcelona but the Athletic Bilbao star now appears to be keen on staying with his current side for another 12 months, despite not having a shortage of suitors.

Speaking about his future amid Premier League links, Olmo told Marca last month: "We'll see. The people who deal with that [the transfer] already know what I want to do. I don't know if I'll stay in Germany, we'll see. I want to be somewhere where I'm valued and loved and what I want to do is win. There are several options, we'll see what happens."