By Wayne Veysey

4th Jan, 2016 | 6:47pm

Revealed: Arsenal to complete £20.4million deal this week

By Editor Wayne Veysey | Former Evening Standard, Press Association and Goal chief correspondent with 17 years experience of breaking big stories, including exclusives like this

Follow me on Twitter @footyinsider247

Arsenal are set to complete a deal worth £20.4million in total for Mohamed Elneny this week, Football Insider sources understand.

Elneny has agreed the terms of a four-and-a-half-year contract worth £65,000-a-week and the Gunners’ bid of £5.2million has been accepted by the midfielder’s club Basle.

He underwent a medical in Paris last week as he prepares to complete a move to Emirates Stadium and become the Gunners’ first signing of the January.

An Arsenal source told Football Insider that the proposed transfer to Arsenal is now ’99 per cent done’, with the only remaining hurdle to the deal being formalised is that the 23-year-old Egyptian must wait for clearance on a work permit.

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All parties are confident this is a formality as Elneny, who has won 40 caps for the Egypt national team, is a regular for club and country.

Manager Arsene Wenger has said that he will be “busy, that’s for sure” in the January window, although he does not expect to make more than two signings.

Wenger has moved to strengthen his midfield after Arsenal won three of their four Premier League matches either side of the Christmas break to lead the Premier League table.

Green light: Wenger has sanctioned a £5.2million bid for Elneny

Wenger has sanctioned an early move for a central midfielder after long-term injuries robbed him of the services of first-choice pair Francis Coquelin and Santi Cazorla until at least March and possibly longer.

With Mathieu Flamini and Mikel Arteta out of contract next summer, and Jack Wilshere still absent through injury, Wenger has given the green light to land Elneny.

Elneny fits the bill  for Arsenal because of his pedigree, ability to play in a number of midfield positions and relatively good value.

He joined Basle, initially on loan, in January 2013 and has won three consecutive Swiss league titles with the club.