Sao Paulo president Juvenal Juvencio has revealed that the club hope to tie up the signing of Napoli winger Eduardo Vargas this week.
The Chilean international, who has fallen down the pecking order at the Italian club, had been linked with a number of European sides.
However, it appears that the Brazilian outfit have moved to the head of the queue, with Juvencio branding the attacker "an important player".
"We'll define his signing this week. Values and intentions have been agreed. Now we have to wait, we will have him for a year and a half. We believe he will be an important player for us," Juvencio told Radio Bandeirantes.
Arsenal had been linked with a loan move for the winger.
