Crystal Palace are set to be beaten to the signature of Yannick Carrasco by Atletico Madrid.
The Belgium international winger is on the books at Chinese Super League side Dalian Professional and was an impressive performer for the team last term.
He is keen to return to Europe though and Crystal Palace have been making the running to snap him up.
The Eagles have been eyeing a loan deal for the winger, but they are set to lose out in the race, with Carrasco to join Atletico Madrid, according to Madrid-based daily Marca.
Carrasco is in Madrid to complete the move, which will take the basis of a loan deal.
The 26-year-old had a prior spell with Atletico Madrid, playing 124 games for the Spanish giants between 2015 and 2018.
He will once again link up with Los Rojiblancos and bolster Diego Simeone's options.
It is unclear what level of loan fee Atletico Madrid are paying or whether the agreement will contain a purchase option.
