West Ham United will complete the signing of Newcastle midfielder Kevin Nolan on Thursday, subject to passing a medical, and will make him their new captain.
The Hammers have revealed they expect to complete two new signings within the next 24 hours, with Bolton left-back Ricardo Gardner also poised to arrive at Upton Park.
"Both prospective arrivals are proven Premier League players and will add greatly to new manager Sam Allardyce's first-team squad ahead of the 2011/12 season,'' read a club statement.
Nolan, who will turn 29 next week, was a crucial figure in the Newcastle side which won the Championship title in 2009-10, matching Andy Carroll's league goals tally of 17.
The former Bolton Wanderers player's fine form continued back in the Premier League last term as he netted another 12 goals. But with talks stalled over a new deal at St James' Park, Nolan seems headed for a reunion with Sam Allardyce at the Hammers.
Newcastle are operating under owner Mike Ashley's stringent policy of being unwilling to meet a player's requirements in terms of length of contract. He could have seen out the remaining two years of his deal at St James' and then left for nothing, but it appears that the Magpies are ready to cash in on him now.
If West Ham complete the signing for Nolan it will be seen as a coup as they aim to return to the top flight at the first attempt. Nolan is in the prime of his career and has already shown his ability to perform in the Championship.
Newcastle slammed the Hammers' original £1.5 million offer for Nolan, but a compromise has been reached. The Magpies have confirmed that an undisclosed fee has now been agreed.
Joey Barton, another player in the middle of a contract wrangle with the Tyneside club, has reacted furiously to the news on his Twitter account, and suggested he will follow Nolan out of the exit door along with Jose Enrique and Jonas Gutierrez.
He said: "Just on my way to Ascot, feel sick ... Great player, leader, captain, person, trainer and mostly a friend for life. Devastated to see him SOLD! #mejoseandjonasnext"
He later added: "The king is dead long live the king! Sure I've said that once or twice before #thatsfootball http://yfrog.com/kg96kij"
Pardew has managed to add France midfielder Yohan Cabaye to the mix and will have Hatem Ben Arfa and, fitness permitting, Dan Gosling at his disposal next season. The club also remains in the market for a series of targets, although they have already missed out on Lorient frontman Kevin Gameiro.
But the promises of the club spending the £35 million received from the sale of Carroll have been replaced by high profile exits.