Everton have agreed a £42m deal with Southampton for Tyler Dibling.
Sky Sports News understands an agreement in principle includes £6m add-ons, which are easily achievable based on appearances, and a 20 per cent sell-on clause.
The 19-year-old featured 33 times for Southampton in the Premier League last season, scoring two goals, and was eager to explore a return to the top flight this summer.
Dibling looks set to become David Moyes’ seventh signing of the summer transfer window, following the arrivals of Thierno Barry, Jack Grealish, Mark Travers, Tom King, Kiernan Dewsbury-Hall and Adam Aznou.
Carlos Alcaraz’s initial loan move has also been converted into a permanent deal.
Moyes: We have had trouble spending our money
The signing of Dibling will be welcomed by Moyes, who admitted in his pre-match press conference ahead of the fixture against Brighton that the Toffees have struggled to spend money this summer after missing out on several key targets.
“We have money to spend and we are trying to spend it,” Moyes said.
“It is not we don’t have the money to spend, we do have, but we’re finding it very difficult to spend the money at the moment.
Everton manager David Moyes says he is still short on numbers at the club and is hoping to make more signings before the transfer window closes.
“We’ve really gone for some top players but unfortunately we’ve not been able to get them, so we might be finding ourselves coming down the ladder to find players because we are short on numbers generally. We are going to have to adjust.”
Asked what was preventing Everton securing a lot of their targets, Moyes added: “Absolutely Europe. If you have European football you attract a a different level of player, you are more attractive.
“We have got to build an awful lot of trust with players and maybe agents to show we are a club moving in the right direction.
“I think our ownership have come in and helped us and they will give us a chance to spend more money but I believe the better players want European football, most of them or a lot of them do.”
Sky Sports to show 215 live PL games this season
215 live Premier League matches up from 128 this season on Sky Sports
This season, Sky Sports’ Premier League coverage will increase from 128 matches to at least 215 games exclusively live.
And 80 per cent of all televised Premier League games this season will be on Sky Sports.
