Pele signed for Porto from Inter last summer as part of the deal that took Ricardo Quaresma to the Italian champions, but he has found it hard to succeed at the Estadio do Dragao and is on the brink of a loan move to Real Valladolid.
The Primera Division side have confirmed on their official website that they have reached an agreement in principle with Porto to sign the 21-year-old on a season-long loan.
Pele has already passed a medical with the club and it is likely he will be presented to the press today, together with Manucho.
This will be the midfielder's second temporary deal in the space of a year, having been loaned out to Portsmouth after an indifferent first half of the season with Porto.
Meanwhile, Valladolid have announced they have secured a buy-out clause for Pele, who played 15 matches for Inter in the 2007-08 season.
Luís Mira, Goal.com