Arsenal have agreed a £17.7million fee with Rennes for midfielder Yann M’Vila but are yet to confirm personal terms with the club’s Champions League participation in the balance.

It is understood the framework of a four-year deal worth around £60,000 a week has been provisionally agreed but both parties are unlikely to finalise terms before Sunday’s final Premier League fixtures.

The Gunners remain third which brings with it automatic Champions League qualification but could yet finish outside the top four as Tottenham and Newcastle lie within striking distance should they falter at West Brom.

Inter Milan are keen to land M’Vila but the 21-year-old has indicated his preference to move to England.

Although M’Vila is still expected to move to Arsenal even if they miss out on the Champions League, a failure to qualify for Europe’s top competition would mean the deal would have to be renegotiated.

The Gunners are keen to finalise the transfer as soon as possible, particularly before the start of Euro 2012, where M’Vila is expected to play a key role for France and the club fear his price could significantly increase.

Meanwhile, Steve Bould is set to be confirmed as the Gunners’ new assistant manager after Pat Rice, 63, turned down a last-ditch pleas from Wenger to delay his retirement after nearly 50 years with the club.