According to Alberto Santacruz of RadioMarca, the Bilbao club have agreed personal terms with the 31-year-old, who is keen on returning to the club he left in 2018.
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Laporte has been told to look for a new club by current employers Al-Nassr, two years after joining the Saudi Pro League side from Man City.
The two clubs are yet to reach an agreement on a fee, although it’s understood Al-Nassr are demanding the €27.5m they spent to sign him.
Fellow La Liga side Atletico Madrid had also been interested in Laporte but that seems to have cooled and they will look elsewhere.