Atletico Madrid have agreed a €25 million deal to sign midfielder Nicolas Gaitan from Benfica.
Gaitan is currently with the Argentina national team at the Copa America in the United States and is set to complete the transfer upon his return.
The 28-year-old, who has regularly been linked with Manchester United over recent times, had extended his contract at the Estadio da Luz until June 2019 in December.
However, Atletico have agreed a deal for the playmaker, who has scored 41 goals in 252 matches for Benfica since joining from Boca Juniors in 2010.
A statement on Atletico's official website read: "Atletico de Madrid and Benfica have reached an agreement for the transfer of Nicolas Gaitan to our club.
"The midfielder is currently playing the Copa America with Argentina, and will travel to Madrid after the tournament that is being held in the United States, to finish all the necessary formalities so he can join the red and white team."
Nico Gaitán transferido para o @Atleti Boa sorte, Mágico! #SejaOndeFor pic.twitter.com/PsaOax62CO
- SL Benfica (@SLBenfica) June 16, 2016
Benfica also confirmed the transfer on their official website.
A statement from the Portuguese club read: "Benfica, complying with Article 248 of the Transfer Code, announce that they have arrived at an agreement with Atletico Madrid for the definite title transfer and rights of Osvaldo Nicolas Fabian Gaitan for the sum of €25m.
"The player will be subject to a medical examination."
Atletico boss Diego Simeone had said after the Champions League final defeat to Real Madrid last month that he was considering his future at the Vicente Calderon, but he announced on his Instagram account this week that he had returned to work.
His post showed him in Buenos Aires with Atletico chief executive Gil Marin and technical director Andrea Berta, and Mundo Deportivo reports that Marin was in the Argentine city to resolve some late complications in the deal with Gaitan's agent, Jose Iribarren.
Atletico are also expected to tie up a deal for Croatia right-back Sime Vrsaljko from Sassuolo, who was quoted in the Italian media on Thursday as saying: "Right from the first moment that this possibility started to take shape, I told the Sassuolo management that I wanted to go to Atletico Madrid."
Vrsaljko is reportedly set to cost an initial €16m.