Spanish Giants Barcelona have agreed to a deal to sign Spain International Ferran Torres from Premier League champions Manchester City for a fee of around 55 million euros ($62 million).
Both Sky Sports and the BBC reported Barca would pay City a further 10 million euros in add-ons for the 21-year-old forward.
The deal comes despite severe financial difficulties at the Catalan club.
They had to let club legend Lionel Messi leave in the summer due to “financial and structural obstacles” and have debts of more than 1.35 billion euros.
Their attacking options were weakened further with the retirement of newly-signed striker Sergio Aguero last week due to a heart condition.
Current EPL table-toppers City signed Torres in August last year on a five-year deal for a reported fee of 23 million euros, but former Valencia forward made only 43 appearances, scoring 16 times.
Torres, who has played 22 times for Spain scoring 12 goals, has been out of action since sustaining a minor fracture on his right foot during the UEFA Nations League campaign.
Barcelona, one of Spain’s two most successful clubs ever, are seventh in LaLiga after a poor start to the season which resulted in the sacking of coach Ronald Koeman, with club great Xavi Hernandez taking over.
Editing by Tony Okerafor