Sky Sports News understands that Zenit St Petersburg will accept a £15 million one-off payment from Arsenal for star playmaker Andrei Arshavin.
Chief news reporter Bryan Swanson said the Russian club's general manager Maxim Mitrofanov has confirmed they will accept a £15million bid for the player.
It is understood that the current bid on the table from Arsenal is £12million plus £3million in add-ons but Zenit's board met on Tuesday night and they want the £15million as a one-off payment.
Previously, Zenit had been looking for £20million for Arshavin, but are ready to accept a smaller amount providing the money is paid up front.
Meanwhile, another Zenit player Anatoli Tymoschuk could be on his way to Bayern Munich.
The Ukraine international midfielder has long been a top target for Bayern coach Jurgen Klinsmann after impressing in recent seasons.
The player recently met with Bayern chairman Karl-Heinz Rummenigge and executive manager Uli Hoeness in the Bavarian capital, although a January deal was not thought to be in the pipeline.
But Mitrofanov told Sport Express: "He has an option that any club can buy him for a definite sum of money after 1st March this year.
"Bayern can pay us this sum and they will get him. Today I'm in Stuttgart and I will have a meeting with Bayern management where we will talk also about the possibility of the Tymoschuk transfer."