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Schalke 04 midfielder Orlando Engelaar is expected to link-up with former manager Fred Rutten at PSV.
The 29-year-old worked under Rutten while at Twente before they were reunited at Schalke and after the Dutch coach agreed to take over the reins at PSV in April, it looks likely that Engelaar will play under his mentor once more.
According to reports in Holland the Dutch international has firm offers from PSV, Panathinaikos and an unnamed English side.
Despite Panathinaikos being the more beneficial move in terms of wages, Engelaar is said to favour a return to the Eredivisie in a bid to regain his place in the national team ahead of the World Cup next summer.
After impressing in the European Championship in Switzerland and Austria, Engelaar has mysteriously not played for his country since the quarter-final defeat at the hands of Russia last summer.
"The case has already been negotiated completely," the player's agent Edward Burleson told Algemeen Dagblad.
"Orlando knows what he can get by all of those three clubs. At his holiday we only had contact by phone, now we could happily see each other face to face.
"I expect to have an outcome within some days. Greece is financially the most attractive offer. However Orlando had other things in mind as well."
Meanwhile, PSV defender Jeremie Brechet will return to Sochaux a year after leaving the French club for the Eredivisie.
The Frenchman insists that he is happy at the club but his family wish to return to his homeland.
"It's difficult. I did not want to leave PSV, but my family misses France and wanted to return," he told the club's official website.
"It's a pity, but PSV understands the situation. I have had a lot of pleasure here and made a lot of friends.
"I will miss this club, I was very happy at PSV. But my family is content with this decision.
"This is difficult for me but the best for them. We are looking for a new future in France."Transfer Specials. Click here to bet.
Arsenal bow out at Bayern but there was a positive in Alex Oxlade-Chamberlain, writes Matt Stanger.
Manuel Pellegrini's Manchester City side must seek an early goal at Camp Nou, writes Daniel Storey.
A good joke brought Wolves plenty of attention last week after an admin error went viral. The famous badge was printed upside down on a supporter’s shirt.
Read the thoughts and opinions of Jamie Carragher with skysports.com
Sky Sports understands Fleetwood are closing in on the signing of Gareth Evans from Rotherham.
Angelo Henriquez has revealed that Manchester United have blocked him from playing for Chile so he can join Wigan.
Sky Sports sources understand Demba Ba's representatives are in talks with Chelsea over a January move.
Bristol Rovers have agreed a deal with QPR for striker Tom Hitchcock, Sky Sports understands.
Lille and Newcastle have agreed a fee in the region of £5million for Mathieu Debuchy, Sky Sports sources understand.