Rayo Vallecano accept Swasea City's bid for Michu

Swansea City have had a bid of £2m Euros for midfielder Michu accepted by Rayo Vallecano, according to reports.

Spanish daily Marca have revealed that cash-strapped Rayo are prepared to sell their highly-rated star to the Swans for a relatively small fee.

The 26-year-old shone as Rayo escaped relegation last season, his performances leading to rumors of interest from Manchester United, Liverpool and Southampton.

With the Madrid-based club desperate for quick cash to ease their debt, Swansea boss Michael Laudrup is close to completing a real transfer coup.