Swansea City are ready to pay out Michu's contract.
WalesOnline says Swansea have been locked in discussions with the Spaniard's representatives since the summer when it was made clear from both sides he had played his last game in the club's colours.
It has been agreed to write off the final seven months of the star's contract.
That could then see Michu sign with Asturian outfit Union Langreo who play in the regionalised Tercera Division – three tiers below La Liga – where he has been training in recent weeks.