Atletico Madrid have agreed a deal for Porto striker Radamel Falcao, reported to be worth around £35 million.
Falcao, 25, will join the Spanish club subject to passing a medical, with his Porto team-mate Ruben Micael following him to Madrid in a separate deal.
Colombian international Falcao has scored 73 goals in 84 games for Porto, and last year achieved a haul of 38 as his team won the domestic double and the Europa League.
On the international stage, he has made 31 appearances for Colombia and scored nine times.
Atletico will be using money from the sale of Sergio Aguero to Manchester City to fund the transfers - with Portugal international midfielder Micael costing around £4 million.
A statement on the Atletico website read: "Atletico Madrid and Porto have reached an agreement for the transfer of Radamel Falcao to the Rojiblancos. The Colombian striker, top scorer in last season's Europa League with 17 goals, will sign a contract for five years with our club."
Falcao will now travel to Madrid to discuss personal terms and undergo a medical.