Skysports.com understands Sheffield Wednesday have won the race to land Arsenal starlet Sanchez Watt on a loan deal that is set to run until January.
Numerous Football League clubs were believed to be chasing the 20-year-old forward.
Watt is held in high regard at the Emirates and was recently rewarded with a new contract.
His stunning form for the club's reserve side convinced Arsene Wenger that he was deserving of fresh terms.
The youngster is hoping to force his way into the Gunners' first team plans this season, but appreciates that he remains some way down the pecking order.
For that reason, he is prepared to head out on loan and pick up valuable experience.
He spent last season on loan at Championship side Leeds and has also taken in a short-term spell at Southend in the recent past.
Wednesday are hoping they can put his obvious talent to good use in League One, with the Owls pushing hard for promotion.
Gary Megson has made his move after seeing Gary Madine ruled out for six weeks with a broken toe.