|Ospina and Neymar during World cup.. Photo credit: getty image|
Per the source, the Gunners have agreed to loan Ospina to Besiktas in a deal that includes a £1.3m [€1.5m] fee.
The Colombian international will make the final decision over whether to complete the move.
The Black Eagles have been locked in talks with Ospina’s representatives for weeks but have yet to strike a deal over bonuses.
The two sides are expected to come to an arrangement over the next few days.
The report claims that the transfer is looking very likely but the Super Lig side do have other options.
The Istanbul based outfit are also holding negotiations with Liverpool keeper Simon Mignolet and Bursaspor stopper Harun Tekin.
Besiktas have made finding a replacement for Fabri a priority.
The Spanish keeper was sold to Fulham on a £5.3m move last month.
|Besiktas goalkeeper, Fabri completes move to Fulham some weeks ago|
The Colombian international has yet to return from his extended holiday following his World Cup campaign with Colombia in Russia.
The 29-year-old started every match for Colombia who eventually bowed out in a penalty shootout against England.
Ospina is expected to part ways with Arsenal this summer after dropping down the pecking order into third-choice, behind Bernd Leno and Petr Cech.
Besiktas would be prepared to make Ospina first-choice keeper next season.