Former USA captain Claudio Reyna is expected to be unveiled as a New York Red Bulls player later today just 24 hours after being released by Manchester City.
The Red Bulls have called a news conference for 1pm EST (6pm GMT) to make a 'major player announcement', with the New York Post reporting that Reyna is the player involved.
Reyna is likely to be named as one of New York's 'designated players', allowing him to receive a wage above the MLS mandated maximum of 300,000 (£151,400) per year - the same system that was used to hand David Beckham a bumper contract with the Los Angeles Galaxy.
Reyna, 33, will be reunited with former national team coach Bruce Arena in New York.
Reyna won over 100 caps for his country, with the bulk of them coming under Arena. He also played in three World Cups before retiring from international football after the 2006 tournament in Germany.
Reyna, who hails from Newark, New Jersey, was also coached by Arena at the University of Virginia before he left for a career in Europe which included spells at Bayer Leverkusen, Wolfsburg, Rangers and Sunderland.
Reports also suggest Reyna's former City team-mate, Dutch goalkeeper Ronald Waterreus, is expected to sign for the Red Bulls in the next fortnight.
The veteran goalkeeper, 36, is negotiating a release from AZ Alkmaar.
However, the Red Bulls have denied reports that former Southampton striker Agustin Delgado is set for a medical.