Spanish striker Borja Baston is having his Swansea City medical before a proposed a £15m club record transfer.
The 23-year-old Atletico Madrid forward, who scored 18 La Liga goals on loan at Eibar last season, is set sign a four-year deal at the Welsh club.
The Swans have already signed fellow Spaniard and World Cup winner Fernando Llorente from Sevilla as they look to replace West Ham-bound Andre Ayew.
Swansea’s previous record fee was the £12m paid for Wilfried Bony in 2013.
“I was happy with the squad before but I am more happy now because, with Fernando Llorente and Borja Baston, I think we have signed two good players, two very important players,” said Swans head coach Francesco Guidolin.
Borja is an Atletico youth product but has made only one senior league appearance for the Spanish club.
Swansea want striking reinforcements following the summer departures of forwards Alberto Paloschi, Eder, Bafetimbi Gomis and Ayew.
Borja is set to become Swansea’s fifth summer signing following Spanish striker Fernando Llorente, Dutch defender Mike van der Hoorn, Dutch winger Leroy Fer and Australian keeperMark Birighitti.