The 17-year-old Peruvian was said to close to signing for the Gunners in August but a deal failed to materialise.
Liverpool and Real Madrid had also been credited with an interest in the Universitario de Deportes striker, who has been compared to Brazil's Robinho.
However, according to ITA Sport Press, the player has now decided to move to Stadio Luigi Ferraris in a £4m deal.
Restore Data
| Team | P | W | D | L | F | A | GD | PTS | |
| C | Manchester CityMan City | 38 | 28 | 7 | 3 | 96 | 34 | 62 | 91 |
| 2 | Arsenal | 38 | 28 | 5 | 5 | 91 | 29 | 62 | 89 |
| 3 | Liverpool | 38 | 24 | 10 | 4 | 86 | 41 | 45 | 82 |
| 4 | Aston Villa | 38 | 20 | 8 | 10 | 76 | 61 | 15 | 68 |
| 5 | Tottenham HotspurSpurs | 38 | 20 | 6 | 12 | 74 | 61 | 13 | 66 |
| 6 | Chelsea | 38 | 18 | 9 | 11 | 77 | 63 | 14 | 63 |
| 7 | Newcastle UnitedNewcastle | 38 | 18 | 6 | 14 | 85 | 62 | 23 | 60 |
| 8 | Manchester UnitedMan Utd | 38 | 18 | 6 | 14 | 57 | 58 | -1 | 60 |
| 9 | West Ham UnitedWest Ham | 38 | 14 | 10 | 14 | 60 | 74 | -14 | 52 |
| 10 | Crystal Palace | 38 | 13 | 10 | 15 | 57 | 58 | -1 | 49 |
| 11 | Brighton & Hove AlbionBrighton | 38 | 12 | 12 | 14 | 55 | 62 | -7 | 48 |
| 12 | Bournemouth | 38 | 13 | 9 | 16 | 54 | 67 | -13 | 48 |
| 13 | Fulham | 38 | 13 | 8 | 17 | 55 | 61 | -6 | 47 |
| 14 | Wolverhampton WanderersWolves | 38 | 13 | 7 | 18 | 50 | 65 | -15 | 46 |
| 15 | Everton | 38 | 13 | 9 | 16 | 40 | 51 | -11 | 40 |
| 16 | Brentford | 38 | 10 | 9 | 19 | 56 | 65 | -9 | 39 |
| 17 | Nottingham ForestNott'm Forest | 38 | 9 | 9 | 20 | 49 | 67 | -18 | 32 |
| R | Luton TownLuton | 38 | 6 | 8 | 24 | 52 | 85 | -33 | 26 |
| R | Burnley | 38 | 5 | 9 | 24 | 41 | 78 | -37 | 24 |
| R | Sheffield UnitedSheff Utd | 38 | 3 | 7 | 28 | 35 | 104 | -69 | 16 |
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