Swansea City have had an offer for Michu accepted by Rayo Vallecano.

Marca says the Spaniard was given the all clear to discuss personal terms with the Welsh side today.

Michu has a four million euros release clause from his contract but the Madrid-based side has been struggling financially, with players threatening to leave last season in a row over unpaid wages.

Several other English clubs have been linked with the midfielder, including Manchester United, Fulham, Stoke City, Liverpool, Southampton, Wigan Athletic and West Bromwich Albion.