Newcastle have won the race to sign Republic of Ireland and Chelsea winger Damien Duff.
The 27-year-old player is set to to join the club subject to completing a medical.
A statement on the club website, nufc.co.uk, declared: "The board of Newcastle United PLC are pleased to announce that contracts have been exchanged with Chelsea Football Club for the transfer of Damien Duff.
"The player, having agreed terms, is currently undergoing a medical."
Newcastle will be delighted to have won the race for Duff, who was also wanted by Tottenham.
A left-sided player, he came to prominence at Blackburn and was a £17million signing by Chelsea in 2003.
However, Chelsea's squad strengthening meant Duff's place could come under threat next season - with Michael Ballack's signing adding to the competition for places.
Chelsea were unwilling to sell Duff to Tottenham for £7million but declared themselves ready to offload the wide man at the right price.
Competition from Arjen Robben, Joe Cole and Shaun Wright-Phillips for the wide positions has limited Duff's first-team opportunities.
Chelsea boss Jose Mourinho said this week: "I like Damien as a player and as a person. I listened to him for a couple of hours and I could understand what he has in his mind.
"After that it becomes business. He's such a good player we will do good business with another club."
It is a move which will excite Newcastle's fans, who have seen captain Alan Shearer retire and £17 million striker Michael Owen head off for another long spell in the treatment room.
