Atletico Madrid and Monaco have reached a "preliminary agreement" over the transfer of Thomas Lemar, the Spanish club have announced.
Lemar was strongly linked with both Liverpool and Arsenal last season but is now set for a move to the Wanda Metropolitano.
"Atletico de Madrid and AS Monaco has achieved a preliminary agreement over the transfer of Thomas Lemar to our club," read a statement released by Atletico on Tuesday night.
"Over the next days, both clubs will work to close the agreement for the definitive transfer."
Lemar is currently away on international duty with France and both clubs will be keen to finalise the transfer before the start of the World Cup, which gets underway on Thursday.
France play their opening game of the tournament on Saturday against Australia.
Lemar's potential transfer could have major implications for the future of compatriot Antoine Griezmann, who has been heavily linked with a move from Atletico Madrid to Barcelona.
Griezmann insists he is made a decision on his club future but has refused to reveal if he will remain with Atletico next season.
"Today is not the day to talk about my future," he said at a press conference on Tuesday. "Yes I have already made a decision about my future. But I'm not going to speak about it today.
"It's not the time or the place."