Everton have agreed a £25m deal for Napoli's Brazil midfielder Allan, and are also in talks to bring Real Madrid's James Rodriguez to Goodison Park.
Manager Carlo Ancelotti has prioritised strengthening Everton's midfield and made Allan, 29, who he worked with as Napoli coach, his top target.
Ancelotti has also coached Rodriguez previously - at Real Madrid and also when he was manager at Bayern Munich, where the Colombian forward was on loan.
Rodriguez, 29, has fallen from favour under Zinedine Zidane at the Bernabeu but Ancelotti remains a huge admirer and the player also had a close working relationship with the Italian in Spain and Germany.
It remains to be seen whether the deal is on a loan or permanent basis but it will certainly involve a payment from Everton to Real Madrid.
Everton remain in talks with Watford for midfield man Abdoulaye Doucoure but the Hornets' £30m price tag may prove prohibitive.
Ancelotti had set his sights on Pierre-Emile Hojbjerg but Everton backed away from a deal when the Dane made it clear he wanted to join Tottenham from Southampton.
He will be delighted, however, to get a deal over the line for a player he was determined to bring to Everton, and at a manageable price after Napoli originally demanded £40m.