Patrick Vieira is all set to move to Real Madrid.
According to Spanish radio reports, the French international's club Arsenal accepted a £23.1m transfer fee offer for their captain.
Cadena SER said on Tuesday night that the deal would be completed on Wednesday ahead of Thursday's deadline for player registration for the early rounds of the Champions League.
According to reports, Real Madrid president Florentino Peréz, who was re-elected in July, agreed to Arsenal's asking price of £23.1m after faxing an offer of £16.5m on Monday.
It is learnt that Perez and David Dein, the Gunners' vice-president, discussed the transfer on the telephone and agreed to the deal.
Vieira, who is under contract with Arsenal till 2007, is expected to sign for four-to-five years and will receive around £ 3 million a year.
If the deal is clinched, Vieira could play in Real's Champions League qualifier against either WIT of Georgia or Polish side Wisla Krakow.