Kevin de Bruyne is set to have a medical with Manchester City before a club-record move to the Premier League side.
The outstanding issues involving the 24-year-old Belgium midfielder's proposed transfer from Wolfsburg have now been resolved.
The fee will exceed the £49m City paid Liverpool for Raheem Sterlingin July.
De Bruyne was not included in the Wolfsburg squad for Friday's Bundesliga game against Schalke.
The former Chelsea player is set to become the second most expensive signing by British club after Manchester United's £59.7m deal for Angel Di Maria from Real Madrid in 2014.
He started just five matches for the Blues after joining from Genk in January 2012 and spent 2012-13 on loan at Werder Bremen.
De Bruyne joined Wolfsburg in January 2014 for an undisclosed fee thought to be around £16.7m.
On Thursday, Wolfsburg's director of sport Klaus Allofs admitted that Manchester City had made an "astonishing" offer to the player.
He said: "We can't compete with that. I would prefer to keep him, not to get the money."
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