Sources close to the club insist the partnership is not the first step towards another American takeover but just involves a technical link-up between Arsenal and the Major League Soccer team.
The Gunners will send coaches over to Colorado while promising players from the US side will be given the chance to train with the Arsenal team.
Arsenal vice-chairman David Dein is understood to be in the USA at the moment and a news conference has been called by the American club.
The Rapids will also be using Arsenal's London Colney training ground as their base for a pre-season tour of England from March 8 to 13.
The MLS club are owned by billionaire American Stan Kroenke but there is no suggestion that Arsenal's shareholders are looking to sell their stake to him.
Arsenal already have a similar tie-up with Belgian side Beveren, from whom they signed Ivory Coast defender Emmanuel Eboue. A number of Arsenal players have gone on loan to Beveren too.
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