Rafa Benitez is set to return to management at Panathinaikos, where he will become the highest paid coach ever in Greece.
The former Real Madrid and Liverpool manager has been out of work for over a year, after he was fired at Celta Vigo in March.
Benitez will sign a two-year deal with Panathinaikos, who currently sit seventh in the league, having picked up nine points from six matches.
It leaves them eight points behind leaders PAOK, although they have a game in hand.
Dutch outlet De Telegraaf reports that Benitez agreed the record-breaking £3.47 million deal, after meeting with club president Giannis Alafouzos in London.
Panathinaikos have not won the league title since 2010 and have only lifted it twice this century.