Blackburn Rovers have an agreement in place with Newcastle United for Adam Armstrong, according to Sky Sports News.
The striker, who came through the youth ranks at Newcastle, spent the second half of last season on loan at Ewood Park.
The Championship side have agreed to pay Newcastle an initial £1.75m for the 21-year-old.
Add-ons included in the deal mean Newcastle could eventually bank £3m for the hitman.
Armstrong is also keen to make the move and has already agreed terms on a contract with Blackburn ahead of a return to Ewood Park.
The England Under-21 international had loan spells with Coventry City, Barnsley and Bolton Wanderers before joining Blackburn.
His sale will add to Rafael Benitez’s transfer kitty in the final week for Premier League sides to make signings.