By Editor Wayne Veysey

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Granit Xhaka has joined Arsenal in a deal that will cost the club £65million in transfer fee and wages, Football Insider sources understand.

The Londoners announced on Wednesday morning that the Swiss sensation had completed a transfer from Borussia Mochengladbach.

As revealed by Football Insider a fortnight ago, Arsenal will pay around £34million for Xhaka in a deal that will be worth £65million in transfer fee and wages. Xhaka has agreed a five-year-contract worth £120,000-a-week.

Xhaka, 23, has become the second-most expensive signing in the club’s history behind Mesut Ozil, who joined from Real Madrid in 2013 for £34million rising to £40million with add-ons.

The transfer is still to be officially completed but Arsenal have confirmed Xhaka’s contract will begin on July 1.

The former Basle man will become the Gunners’ first major signing of the summer as Arsene Wenger looks to build a squad capable of challenging for the title next season.

“Granit Xhaka is an exciting young player, already with good Champions League and Bundesliga experience,” manager Arsene Wenger said. “We have been watching him for a long time now and he is a player who will add quality to our squad.

“We wish Granit a good Euro 2016 with Switzerland and look forward to welcoming him to Arsenal ahead of next season.”

Arsenal were eager to agree the deal before Xhaka joined up with the Switzerland squad for Euro 2016, where he will be up against France, Albania and Romania in Group A.

Arsenal swooped for the Switzerland international after targeting a proven player who can dominate in the middle of the park.

The Gunners signed Mohamed Elneny from Basel in January and have now swooped for another former player of the Swiss club.

Basel academy graduate Xhaka moved to Borussia Mochengladbach in 2012 for £6.75million and developed into one of the Bundesliga’s outstanding midfielders.

He played four seasons for the German club, making 140 appearances in all competitions and scoring nine goals.

In other Arsenal transfer news, the Gunners are expected to field a £25million offer for one of their star names.