West Ham are set to sign Joao Mario from Inter Milan in a loan deal that will be worth over £3.8 million.
The Portugal midfielder underwent a medical on Thursday, with David Moyes confirming at his press conference that the deal will be finalised shortly.
"Your sources are correct. It is a loan, we I’ll be able to tell you more once it’s done," he said, when asked if the player had travelled to London.
Joao Mario cost Inter £35m in 2016, but he has completed 90 minutes just once in Serie A this season, and the signing of Rafinha in January has pushed the 25-year-old further down the pecking order at San Siro.
The Hammers have subsequently moved to secure his signature, and sources have confirmed that the deal will be fully financed by the Premier League club.
West Ham will pay his entire wages, worth £137,500-per-week, leading to a full outlay of £2.2m.
Inter will also receive a loan fee of £1.3m, while agents fees will total around £350,000.
Joao Mario has won 31 caps for Portugal, and played every game as his country won Euro 2016 in France.
Meanwhile, Moyes has also confirmed that the club have rejected a bid from Swansea City for forward Andre Ayew.
The Welsh club are keen to re-sign the Ghana international, but Galatasaray are also interested.
"I think there has been an offer but we wouldn’t accept the current bid as it is," Moyes added.
The club are also hopeful of negotiating a deal with French club Bordeaux over Diafra Sakho, who is surplus to requirements at London Stadium.