Spanish powerhouse Real Madrid are on the verge of signing Portugal international Fabio Coentrao from Benfica for a reputed fee of €22 million, Marca reports.
Madrid and Benfica have been locked in discussions for several days and a deal still seemed some way away earlier this week. However, both clubs now look to have finally reached an agreement over a valuation for the player.
The Portuguese club had initially set a €30m asking price for the highly rated wing-back, a figure that forced Bayern Munich out of the running for his signature, but an offer of €22m that could rise to €27m depending on Madrid's results in the coming seasons appears to have been accepted.
The 23-year-old has yet to agree personal terms with Madrid, but the left-back has repeatedly stated that he has set his sights on a move to Santiago Bernabeu.
Coentrao will be the fourth signing of this summer for Madrid after the previous captures
of Nuri Sahin, Hamit Altintop and Jose Callejon.