Sandro Ramirez has reportedly agreed terms with Everton and will see his move from Malaga officially announced on Monday afternoon.
The Spain Under-21s international has been closing in on a switch to Goodison Park in recent weeks, despite spending time at the European Under-21 Championships in Poland.
Talks are said to have been going on behind the scenes and an agreement between Ramirez and the Toffees has now been struck, but confirmation has been delayed until his buyout clause can be invoked.
According to The Independent, Malaga have played hardball by waiting until July 3 - the day the stipulation comes into effect - before allowing the 21-year-old to leave, rather than shaking hands on a £5.2m deal with Everton in the past fortnight.
Atletico Madrid were the frontrunners to sign Ramirez prior to their transfer ban being upheld, giving Everton a clean run to sign the former Barcelona product.