Espanyol have agreed a release package with Steve Finnan which paves the way for the full-back to return to England. Finnan joined the Barcelona-based club in September of last year but failed to make an impact in the Primera Division after being struck down by a series of nagging injuries.
The Republic of Ireland international signed a contract until 2010 but the two parties have agreed to an early termination.
It is expected the 33-year-old will now sign for a Premier League club with Portsmouth the most likely destination.
Pompey are looking for a replacement for Glen Johnson, who joined Liverpool recently, with manager Paul Hart admitting they were interested in Finnan.
Hart told The News: “We are interested in Finnan and are hoping something can happen on that one soon. There are a few things need clearing up. That’s all I want to say right now.”