Rayo Vallecano have accepted an offer from Swansea City for midfielder Michu, according to Marca.
The Madrid club are still in financial difficulty and its administrators are believed to have approved the €2m sale subject to the player agreeing to move to the Premier League.
Michu – real name Miguel Perez Cuesta – was a revelation at the Campo de Futbol de Vallecas last term, scoring an impressive 15 goals from 37 La Liga appearances in his first season with Rayo after signing from Celta Vigo on a free transfer 12 months ago.
The 26-year-old – who started his career with his local side Real Oviedo – has been the subject of numerous enquiries over the summer, with several English sides including Fulham, Stoke City, Southampton, Wigan and West Bromwich Albion expressing an interest.
However, no club is believed to have offered as much as the Welsh outfit despite a €4m rescission clause in Michu’s contract, which expires at the end of next season.
Recently-appointed Swansea boss and former Real Mallorca Coach Michael Laudrup has already made good use of his Spanish contacts in the last two weeks, signing Jonathan de Guzman from his old club, and has also taken Genoa centre-half Chico to the Liberty Stadium having previously worked with him at Mallorca.