Fiorentina have agreed to insert a €35 million release clause into Juan Cuadrado’s new contract - and the Colombia international is now expected to put pen-to-paper on an extension with La Viola.
The Manchester United and Chelsea target, who was expected to leave his current employers at the end of the summer transfer window, is also in line to receive a significant pay rise on his current €1.2 million-a-year deal.
News of this latest development comes courtesy of Italian newspaper La Nazione - and brought to our attention by Football Italia - who understand that Cuadrado will now finalise negotiations over the length of the contract as well as the salary.
Andrea Della Valle may intervene
Fiorentina owner Andrea Della Valle may personally intervene with the contract negotiations in order to help the club and player reach an agreement over the salary as soon as possible.
That Cuadrado was so keen to have the €35 million release clause inserted into his new deal suggests that he would be prepared to leave the Stadio Artemio Franchi in the near future.
United preparing £30m bid
Reports on Tuesday claimed that Manchester United were preparing a fresh £30 million bid for the player when the transfer window opens in January, which would be a big enough offer to enter into contract negotiations.
United boss Louis van Gaal is believed to be keen to bring Cuadrado to Old Trafford in the New Year - this could indicate that the veteran Dutch coach plans to switch to his favoured 4-3-3 formation - but might face competition from Chelsea manager Jose Mourinho.
Chelsea still keen?
The Portuguese coach also has an interest in Cuadrado, although a deal to bring the live-wire winger to Stamford Bridge appears unlikely, unless Germany international Andre Schurrle leaves the club.
Barcelona were keen to bring Cuadrado to the Camp Nou in the summer, as a direct replacement for Dani Alves.
However, the Catalan giants failed to offload the Brazil international and ended up signing the unconvincing Douglas from Sao Paulo instead.
Barcelona are banned from signing any new players until January 2016, meaning Manchester United have a clear run at Cuadrado should Mourinho opt against making a formal offer for the Colombian, who starred at the World Cup finals in Brazil.
Fiorentina were not prepared to listen to any offers for Cuadrado below €50 million (£38 million), but the South American star will now be allowed to enter into talks with other clubs should they stump up a more reasonable €35 million (£27 million).