Torreira in an interview basically confirming his move said: 'I would have been very happy to be able to return to Uruguay with my teammates, but this is a fantastic opportunity [to join Arsenal] and I do not want to waste it'.
Torreira had postponed a decision on his future until after the World Cup and following Uruguay's exit from the competition, the deal has progressed.
That is the claim of the player's father.
Arsenal fans can relax now, the transfer of Lucas Torreira has more or less been confirmed.
He told Fox Sports Argentina: "It is as good as a fact that Lucas will join Arsenal. We are satisfied with what they offered us, but let's wait a little longer until the World Cup ends".
Unai Emery has also been recently linked with a move for Barcelona's Andre Gomes and would reportedly be open to sanctioning several sales to afford the £30m-rated midfielder.
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A deal for defensive midfielder Torreira - who is 5ft 6in and has been capped eight times by Uruguay - was agreed before the World Cup, where he helped his country reach the quarter-finals, where they were beaten 2-0 by France.
"It is all done in a draft and only missing the arrival of Lucas to England", he added.
Once Torreira has completed a medical, he will become Arsenal's fourth signing of the summer transfer window.
Emery has already brought in Greece defender Sokratis Papastathopoulos, Switzerland right-back Stefan Lichtsteiner and Germany goalkeeper Bernd Leno.
Arsenal begin their pre-season campaign at non-league Boreham Wood on July 14.