Manchester City and Atletico Madrid have agreed a deal of up to £81m (€95m) for Julian Alvarez.
The two clubs have been in negotiations since the weekend and talks accelerated in the last 24 hours.
Atletico, after confirming that Alvarez wants to join them, sent in a couple of offers.
The LaLiga club will pay £64m up front (€75m) with a further £17m in potential add-ons (€20m).
Alvarez’s transfer will represent a record sale for City.
It is also a huge profit on the £14m they paid River Plate for the Argentina forward in January 2022.