HIBIC AGREES £2 MILLION MOVE, AWAITS PERMIT
However, The Hammers are now awaiting a work permit for the player, who will be unavailable until this is sorted out, leaving Glenn Roeder without defensive cover.
The managing director of West Ham, Paul Aldridge, said: "We need a work permit for the player, and as Bosnia are rated outside the top 70 in the world, it will go to appeal which will take a little longer.
"The fee has been agreed between the two clubs, however, and, subject to the work permit decision, the deal is effectively completed."
Hibic, who is 28, previously played for Sevilla in Spain before moving on to Atletico, where he suffered the heartbreak of missing out on promotion on the last day of the season, on goal difference.
This triggered a clause in Hibic's contract that allowed the player to move on.
With Hayden Foxe definitely injured and Christian Dailly picking up a strain in training, Roeder is acutely aware of the problems facing him.
Roeder said: "We are sailing very close to the wind in terms of picking up injuries while having such a tiny squad of what you would consider first team players."