Arsenal will not be signing right-back Cedric Soares on a permanent basis this month, and are prepared to pay £3m in fees and wages to loan the Southampton defender, according to the Evening Standard.

Despite the Portuguese international’s contract expiring in the summer, they have offered a £1m loan fee for the fullback, and are prepared to pay the 28-year-old’s salary for the rest of the campaign.

The Gunners will then consider whether to snap up Cedric on a free transfer in July if he impresses enough during his initial six-month stay at the Emirates.

The Standard report that the London club are hopeful of getting the deal over the line today, ahead of the transfer deadline tomorrow evening.

Cedric will be Arsenal’s second loan of the January transfer window, after confirming the signing of Flamengo centre-back Pablo Mari yesterday afternoon. The Gunners will pay a £4m loan fee for the Spaniard with the option to buy for £8m at the end of the season.