Real Madrid have offered Martin Odegaard a five-year contract at the Santiago Bernabeu which the Norwegian wonderkid can sign on December 17, the date of his 16th birthday.
The Daily Mail cites a report in Spanish newspaper Marca, claiming the talented teenager is set to commit to Carlo Ancelotti's side, and in doing so turn down interest from a host of other major European clubs.
Manchester United, Arsenal, Chelsea and Liverpool have all been mooted as admirers of the 15-year-old in the Premier League, while German giants Bayern Munich are also believed to be monitoring Odegaard's situation closely.
The Norway international currently plays his football back in his homeland with Stromsgodset, and has already broken records as the youngest ever player and goalscorer in the Tippeligaen.
It's clear that Odegaard has a very bright future in the game, having already drawn comparisons in playing style to Barcelona superstar Lionel Messi.
However, fans in England look set to miss out on seeing the emerging young star, with it looking increasingly likely that he'll join Real Madrid before the end of the year.
Senior officials have already approached the youngster's representatives, whilst also presenting Odegaard with the chance to return to Scandinavia to continue his development for another year.
The news will come as a big blow to Louis van Gaal, Jose Mourinho, Arsene Wenger and Brendan Rodgers, who each had secretly held hopes of luring the player to their respective club.
Liverpool will be particularly peeved if they fail to secure his signature, given the fact that Odegaard is a self-confessed Anfield supporter.