Kieran Trippier has passed a medical with Atletico Madrid ahead of his move from Tottenham, Sky Sports News understands.
The Spanish club have agreed a £21.7m (€24m) fee for the England international, with the deal set to be announced on Wednesday evening.
Spurs were offered the chance to sign striker Angel Correa during negotiations but have instead opted for a straight cash deal.
Sky Sports News revealed last week Trippier was also on Bayern Munich's shortlist, while Spurs' other right-back, Serge Aurier, is available for transfer this summer.
Marseille's Hiroki Sakai is the type of player Tottenham want to bring in to replace Trippier and Aurier, Sky Sports News understands.
The Good Morning Transfers verdict
Trippier's impending move was discussed on Sky Sports News' weekday morning show, Good Morning Transfers - with the panel of the opinion that the move would be good for player, club and even England.
"It's great business for Tottenham," said Sky Sports' Mark McAdam. "He's been a loyal servant to the club. It takes a lot of character to go abroad, learn a different language, put yourself in a different environment. What an opportunity to work under Diego Simeone, too."
Follow the Summer Transfer Window on Sky Sports
Sky Sports News is home to three new shows dedicated to bringing you the very latest news from this summer's transfer market.
Start your day with Good Morning Transfers at 9am as our team of reporters and pundits bring you the latest news and insight. Transfer Talk then follows at midday, delivering the biggest stories that matter to you. And join us at 7pm for the definitive round-up of the day's news with The Transfer Show.
And as well as tuning into Sky Sports News, don't miss a thing with our dedicated Transfer Centre blog.
There's also the Transfer Talk Podcast, the daily UK, Regional and European Paper Talk, plus features across skysports.com and the Sky Sports app.