The Sun report that the Spanish international has arrived at the Emirates Stadium for a sizeable fee and the club do not possess an option to buy at the end of the loan.
The £15m fee is a combination of the loan fee and his wages while he is in north London.
Arsenal are reported to have spent £15million on the one-year loan deal for Dani Ceballos
Real Madrid feel his long-term future is in Spain and that is behind the decision not to hand Arsenal the chance to sign the 22-year-old permanently next summer.
Arsenal’s north London rivals Tottenham were reportedly interested in Ceballos but he sealed a move to Arsenal on Thursday as he posed with the No 8 shirt.
Gunners’ boss boss Emery said: ‘We’re excited to see Dani join us. He is a talented player with big technical ability, creativity and precision.’
Real Madrid have not given Arsenal a purchase option as they feel his future remains in Spain
Ceballos also expressed his excitement and explained why he had picked Arsenal ahead of Spurs: ‘I knew I had the confidence of the coach, which was very important for me from the start.
‘I was aware of the responsibility that wearing this shirt entails and it was a tremendously proud moment when I decided to join Arsenal.
‘The coach was the turning point in terms of me joining this massive club. He’s a Spanish coach and he knows me from my time at other clubs.
‘I’m really happy to be able to help Arsenal achieve our objectives.’
The 22-year-old also made it clear that Hector Bellerin had had a role to play in his decision to join: ‘I get on really well with Hector away from football, on a personal level.
‘I told him I was thinking of joining and he told me not to think twice because this is a great city and a great club and that I was going to have a great time.
‘I can’t wait to see him and say thanks for his help in getting me here.’
Ceballos explained that Unai Emery had been integral to his decision to join Arsenal
Original article: https://www.dailymail.co.uk/sport/football/article-7287593/Football-News-Arsenal-spent-15MILLION-one-year-loan-Madrid-midfielder-Dani-Ceballos.html?ns_mchannel=rss&ito=1490&ns_campaign=1490