Southampton have agreed terms with AS Monaco for Guido Carrillo.
Sky Sports says Saints have agreed a £19.1m fee for Carrillo.
Mauricio Pellegrino stated at the start of this week that he hoped Saints would seal deals for Carrillo and Spartak Moscow attacker Quincy Promes.
Dutch winger Promes could obliterate the club's transfer record if he arrives from Spartak Moscow for a fee of around £30m, while it has been reported a fee has been agreed for big Argentinian striker Carrillo.
Saints had a lower bid rejected by Monaco, but have returned with an offer the Ligue 1 reigning champions could not refuse.
If the deal goes through it would smash the club's previous transfer record, which was the £17m paid to Juventus for Mario Lemina last summer.