Bournemouth striker Pitman rejects Blackpool terms
Sky Sports says negotiations are expected to continue and Blackpool boss Ian Holloway outlined the qualities he expects the 22-year-old to bring to his squad if a deal can be finalised.
"I haven't been involved in the negotiations - I have left that to my chairman ... or whatever his new title is!" said Holloway.
"But I will pleased if it gets done and I think Brett epitomises us - a bunch of people who want to make a name for ourselves.
"I think Brett is fresh and hungry, and wants a chance at a higher level. I believe he can score at any level and I want to give him that opportunity. He plays with style, is a great finisher and has a great technique.
"I don't really care where he started - it is where he is going to that matters.
"I think he will relish this challenge, along with the rest of my lads. You might say it's a leap from League One to the Premier League, but look at Ian Wright."