Real Madrid will confirm the signing of Eduardo Camavinga from Rennes on Tuesday, according to reports.
The Spanish giants have failed to land their primary transfer target this summer, with Kylian Mbappe set to stay at PSG.
However, Madrid's failure to sign the World Cup winner for an initial £146m has freed up funds for another purchase.
Los Blancos will pay around £24m to sign Camavinga before Tuesday's 11pm BST deadline, according to Canal Plus.
PSG are known to admire the 18-year-old and were planning a swoop for him next summer.
Camavinga's contract at Rennes expires in 2022 and it looked as if he would remain at the club until then.
But Madrid have been able to agree a last-minute deal after failing to get a response from PSG to their £146m offer for Mbappe.
Madrid set their own deadline of 5pm BST on Monday to agree terms for the transfer of Mbappe.
And the Camavinga news suggests that their interest in the teenager was the reason why they wanted to know whether or not Mbappe was coming before Tuesday.
The midfielder's impending move to the Estadio Santiago Bernabeu is a blow to PSG, and perhaps to Manchester United too.
The Red Devils have been heavily linked with Camavinga, although they acknowledged they were outsiders in the race for his signature.
He might only be 18 years old but Camavinga has already made 87 senior appearances for Rennes.
He will be the first player Madrid have paid money for since January 2020, and the second major arrival this summer after David Alaba.
Camavinga will help to freshen up a midfield unit that contains Toni Kroos, Luka Modric, Casemiro and Federico Valverde.
PSG will have to look elsewhere for a midfielder next summer, with Paul Pogba thought to be high up their wish list.
United too are expected to be in the market for an addition to the engine room in 2022.