Leicester City have reportedly agreed a club-record fee to sign Islam Slimani from Sporting Lisbon.
Last week, speculation surfaced claiming that the Premier League champions had beaten West Bromwich Albion to the signature of the 27-year-old, although Sporting's asking price of £34m was a major sticking point in negotiations.
However, PA claims that the two clubs have now come to an agreement which would eclipse the £16m Leicester paid for Ahmed Musa earlier this summer.
Slimani, who scored 27 goals in 33 appearances for Sporting last season, is now set to undergo a medical at the King Power Stadium, where he would link up with Algeria teammate Riyad Mahrez.
Leicester are also understood to be interested in Slimani's club teammate Adrien Silva, although Sporting are unwilling to let their captain leave the club.
