Everton have agreed a £24million deal for Napoli midfielder Allan and hope to conclude a transfer coup for Real Madrid's James Rodriguez this week.
Everton beat off competition from Borussia Dortmund and Atletico Madrid to sign Brazilian Allan while Madrid playmaker James is expected for a medical early next week.
Carlo Ancelotti has proved a major attraction for both having worked with Allan at Napoli and with James at Madrid and Bayern Munich.
Discussions have been ongoing over a complex deal for James with the 29-year-old's wages a major stumbling block.
James is out of contract at the end of the season but Real Madrid were desperate to offload his salary. Talks have centred around an initial loan with fee then becoming a two year contract at the end of next season.
Everton emerged as a surprise destination for the Colombian earlier this week and are now confident of securing the playmaker's signature ahead of competition from Galatasaray.
Everton are also continuing dialogue with Watford for midfielder Abdoulaye Doucoure in a deal worth around £30m.
