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Arsenal offloaded Wellington Silva to Brazilian side Fluminense last summer but included a buy-back clause in his contract.
The Gunners triggered the £3million clause this month, opting to sell the 24-year-old on for a profit to Bordeaux.
The French side are reportedly paying £4.3m for the Brazilian winger and had an agreement in place with Arsenal last week.
Fluminense president has confirmed that Arsenal have re-signed striker Wellington Silva.
The Brazilian joined the Gunners during the 2010 winter transfer window but has never played an official game for the club.
He enjoyed loan spells at Levante, Alcoyano, Ponferradina, Murcia, Almería, Bolton Wanderers and Fluminense in recent seasons.
“When we brought him in last year, there was a clause that allowed Arsenal to buy him back for a fixed amount,” Pedro Abad told Terra.
“Another club [Bordeaux, France] made a proposal that beats that value and Arsenal already said they will exercise this clause. So he should leave.”