Bournemouth are in advanced talks with Levante over the signing of midfielder Jefferson Lerma, say Sky sources.
It is understood the fee under discussion could rise to a club-record £27m.
The 23-year-old Colombian international, who played against England in the summer's World Cup, handed in a transfer request last week to push through the deal.
Sky Sports News first reported Bournemouth's interest on June 12, stating that the Cherries had made a £16m bid.
It was also understood that several Bundesliga clubs were interested in Lerma. but they were not willing to pay over £8.8m.
Lerma, predominantly a defensive midfielder who can also fill-in at right-back, made 28 appearances for Levante last season as they finished 15th in La Liga.
He moved to Spain in August 2015 from Atletico Huila in his native Colombia.