Palermo are closing in on a deal for Penarol star Abel Hernandez.

Ovacion says Palermo have splashed out £2.75 million to take 50 per cent of Hernandez's registration. The other half will be owned by a local group of investors.

Hernandez has agreed a five-year contract. The 18 year-old Uruguayan striker will move to Italy after the U20 South American Championships.