Arsenal and Chelsea will reportedly split the cost of Raheem Sterling's wages during his loan spell at the Emirates Stadium.

Official confirmation has not yet arrived for the deal to take Sterling from the West of London to the North, but the agreement is understood to be completed after the clubs submitted a deal sheet to buy extra time beyond the 11pm transfer deadline.

An announcement is thought to be imminent, and details around the financial terms of the move have now begun to emerge.

BBC Sport's Nizaar Kinsella reports that Arsenal will not have to pay Chelsea a loan fee for Sterling, suggesting that the Gunners came out on top in negotiations during deadline day after any upfront cost proved to be a hurdle in the opening stages of talks.

Last season's Premier League runners-up will also not have to shoulder the full burden of the England international's £325,000-per-week wages.

Arsenal, Chelsea to split cost of Sterling loan

Instead, Arsenal will only pay a proportion of those wages, rumoured to be a maximum of 50%, with Chelsea making up the rest throughout his season-long stay in North London.

The Blues had been desperate to get Sterling's wages off their books before the deadline, with manager Enzo Maresca having made it clear that the former Liverpool and Manchester City forward was not part of his plans for this season.

While Chelsea should save more than £150,000 per week as a result of the deal, they will still have to fork out a similar fee for a player plying his trade at one of their great Premier League rivals.

The switch to the Emirates sees Sterling reunited with Arsenal boss Mikel Arteta, who worked with the 29-year-old during their time together at Man City.

Sterling spent two years at Chelsea, scoring 19 goals in 81 appearances across all competitions.