Transfer BLOW! Arsenal and Chelsea set to miss out as Bayern Munich close in on deal for Lyon star Corentin Tolisso

Bayern Munich are closing in on a deal for Arsenal and Chelsea target Corentin Tolisso.

The 22-year-old has become one of the most in-demand midfielders in Europe following his impressive form for Lyon last season.

Both London clubs as well as Juventus have been heavily linked with a move for him this summer but they appear to have lost out to Bayern.

According to French newspaper L'Equipe, Tolisso is on the verge of joining the German giants in a deal worth £35m.

The playmaker made 31 appearances in Ligue 1 last term, scoring eight goals.