The Independent reports that Barcelona vice-president, Josep Maria Bartomeu, flew to London yesterday to complete the deal.
Bartomeu returned to Barcelona late last night and is confident Song will complete his move to the Spanish side before this weekend.
Song still has two years left on his contract with the Gunners.
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Liverpool have unveiled their new home kit for next season, sticking with the hugely popular retro styling of the current shirt.
The reputation of the Premier League means it is the most popular and one of the most watched leagues in the world.