Both Arsenal and Aston Villa made bids in the region of around £30m but Villa's payment structure is said to have been more enticing to the canaries who accepted the bid from the Midlands-based side.
It is believed that the arrival of Buendia could be a preparation for the departure of Jack Grealish who has been linked with a move to premier league Champions Manchester city with Pep Guardiola a big admirer of the England international.
Italian football journalist Fabrizio Romano has confirmed that the maestro will sign a five-year contract at Villa with Dean Smith led side winning the race for his signature.
Arsenal fans are likely to be infuriated with losing their top transfer target to a premier league rival and could vent their frustrations to the board should a marquee signing fail to arrive in the summer.
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