Everton are on the brink of taking their spending to over £14million in just 24 hours with the acquisition of Wolves defender Joleon Lescott.
The former England Under-21 international is currently on Merseyside having a medical and is expected to complete a £5.5million move.
Everton boss David Moyes hinted last night another major signing was close and today chief executive Keith Wyness confirmed: "We have concluded our discussions with Wolves. Joleon has been given permission by his club to open talks with us and he will undergo a medical."
Everton hope to conclude the formalities today and unveil their new signing for the media tomorrow.
The 23-year-old has been linked with a number of clubs in recent weeks including Aston Villa, Newcastle and Spanish side Sevilla.
Premiership newcomers Reading also registered an interest in the defender but their bid was rejected by the Wolves board earlier this month, allowing Moyes to step in and secure the services of one of the brightest young defensive talents in the country.
A product of the club's youth system, Lescott missed out on the chance of Premiership football in 2003 when Wolves were in the top flight due to injury, but in total he has made 235 appearances and scored 13 league goals for the Championship outfit.
He will be added to the signing of England squad striker Andrew Johnson, who moved to Goodison Park from Crystal Palace for £8.6million yesterday.
Having already signed Manchester United goalkeeper Tim Howard on a season's loan, Moyes is clearly working hard to boost the club's chance of competing for a top-four spot in the Barclays Premiership, having dropped back into the bottom half of the table last term following their previous season's Champions League qualification.
Wolves chief executive Jez Moxey said: "We have been in discussion with a number of clubs interested in signing Joleon and have agreed a transfer fee with Everton.
"Joleon is this morning undergoing a medical examination and, subject to the outcome of that, we expect to conclude the transfer which will reflect the player's value."
