Swansea have agreed a club record £15m transfer fee for Atletico Madrid striker Borja Baston, according to Sky sources.
It is understood that the fee could rise to £17m.
Baston is expected to fly in for a medical on Tuesday night and Swansea are hopeful of completing the deal before their opening Premier League game against Burnley on Saturday.
The 23-year-old looks set to be Swansea's eighth summer acquisition, and could prove healthy competition for compatriot Fernando Llorente, who joined the club from Sevilla on Friday and signed a two-year deal.
Having made his Atletico Madrid debut in August 2009, Baston has had season-long loan spells at Murcia, Huesca, Deportivo, Zaragoza and Eibar.
Baston's most prolific goalscoring period has come over the last two seasons, scoring 23 league goals for Real Zaragoza in the 2014/15 season before racking up 18 goals in 36 appearances at Eibar.
The 6ft 3in target man helped Eibar to a 14th placed finish with his goals, and ranked 10th on the top goalscorer's standings last season.