Cerro Porteno spokesman confirms deal could be completed soon
The Portuguese giants are set to snap up the player with the ominous tag of being nicknamed 'the new Lionel Messi'.
The 17-year-old, who has been linked with Manchester United and Real Madrid, is currently representing Argentina at the Under-20 South American championships. It is reported that the transfer will cost Porto €1.5 million (£1.26m), with €1m (£844,000) going to Cerro Porteno and the rest to the player's agent and his father.
"Iturbe's family arrived [on Tuesday] in Portugal in the company of agent Gustavo Mascardi, to negotiate with FC Porto. Cerro Porteno waited for an agreement to be reached, to travel to Portugal too and close the transfer. This Wednesday we received word that the deal could be completed," Cerro Porteno spokesman Romeo Ortigoza told Maisfutebol.
"For the moment the family has reached an understanding with FC Porto, we would reach a compromise too. On our part there is no problem."
The player has been training with Argentine outfit Quilmes since August, but unable to play after a dispute from the Paraguayan side that they still owned the player's rights.