Reports in A Bola strongly suggest that Jackson Martinez is set to sign a new deal at Porto within the coming days after intense speculation regarding his future.
His agent, Luis Manuel Manso, told the Renaissance: "It's okay, I will travel in a week to Porto to discuss the renewal."
When he was pressed on if a pre-agreement had been made he continued: "Yes, there is already an agreement to renew."
The 27-year-old Porto striker has been in fine form this season and could have provided the support that Olivier Giroud needed to help the Gunners win the Premier League.
He joined Porto in 2012 and has since made 44 appearances, scoring 38 goals. This season the player has made 14 appearances for Porto in the Primeira Liga, scoring an impressive 12 goals. The Colombian international is known for his Cha Cha Cha dance-like moves on the pitch and is a natural goalscorer, able to finish with either foot.
The rumour re-surfaced of a serious move in early January and according to Portugese newspaper A Bola, the Gunners were preparing to test the forwards £33m release clause. The rumour was doing the rounds for a few months and not considered much more than tenuous at best and more of a second-choice should other deals falter.
News of the Porto deal will come as a blow for Arsenal who are looking at options to strengthen their attack after the loss of Theo Walcott and concerns over the strength of backup for Giroud.