Former Chelsea striker set to announce reported Dh115,000 a week deal to link up with former teammate Nicolas Anelka despite Al Wasl offer.
Didier Drogba closes in on Shanghai deal
But new reports from China have indicated the 34-year-old will shortly announce his move to Shanghai, where he will link up once more with former Stamford Bridge teammate Nicolas Anelka.
And the club's main investor Zhu Jun told Chinese state news agency Xinhua that Anelka would be joining in a deal worth around £200,000 pounds (Dh115,000) a week.
Al Wasl confirmed earlier this month that they had made a 'serious' bid to sign the striker, but believed it was less than the player had been offered in China.
Deep-pocketed Shenhua have spent lavishly on foreign talent, most recently bringing in former Argentina manager Sergio Batista to replace sacked coach Jean Tigana.
They are currently 12th in the 16-club Super League.