The Germany international is expected to complete his move to the Lion’s by the end of the week.
The statement released to the Istanbul stock exchange reads, “We are currently in negotiations with Lukas Josef Podolski and Arsenal football club.
“The player [Podolski] will arrive in Istanbul and undergo a medical examination tomorrow morning.”
Podolski is set to sign a three-year deal with Galatasaray according to Eurosport TR. The Germany international will earn a total of €4.5 million per season (including bonuses).
The 30-year-old forwardwho has a year remaining on his contract with Arsenal, had an unsuccessful spell with the Serie A giants scoring just one league goal.
Podolski won the World Cup with Germany last season and wants regular first team football to keep his place in the national team side.