Besiktas have agreed a four-year deal with Oguzhan Ozyakup.
Newcastle United have been closely linked with Ozyakup but the new deal does not necessarily mean he will not be sold.
The Istanbul based outfit played a risky waiting game, holding out until the 26-year-old’s contract expired before signing him as a free agent.
Besiktas did so to remove the 30 percent sell on clause Arsenal included as part of the transfer deal to the Super Lig outfit five-years ago.
The Gunners would have been eligible for the 30 percent clause had Besiktas renewed his contract.
Instead, the Eagles signed Ozyakup as a new transfer as his deal had expired.
The midfielder could however, still be leaving this summer.
Besiktas were never against selling the Netherlands born player, they wanted to avoid handing over 30 percent of the transfer fee to the North London based outfit.
The Fanatik sports newspaper claim that Newcastle are prepared to pay £12.1m for Ozyakup.
Per the source, Rafa Benitez has made the Turkey international a transfer priority.
Benitez wants the central midfielder for three main reasons, his work rate, his defensive ability and his creativity.
Turkish-Football understand that Everton have also expressed an interest in the former Arsenal man.
The Besiktas star has made no secret of his desire to return to the Premier League but it remains to be seen how the latest development will effect his future at the club.
Ozyakup has 27 goals and 50 assists for Besiktas since leaving Arsenal five-years ago.