Atletico Madrid have agreed a deal to sign Kevin Gameiro from Sevilla on a four-year contract, with Marca reporting the fee as €32 million rising to €40m with add-ons.
Gameiro, 29, will travel to Madrid on Saturday evening to complete the deal and undergo a medical.
The France international striker was not part of Les Bleus' Euro 2016 squad despite another impressive season with Sevilla, in which he won the Europa League for a third consecutive season.
In his three campaigns for Sevilla, Gameiro scored 67 goals and assisted a further 17.
- Atlético de Madrid (@Atleti) July 30, 2016
He will link up with fellow Frenchmen Antoine Griezmann, Lucas Hernandez and Theo Hernandez at Atletico.
Amid interest from Atletico and Barcelona, Sevilla president Jose Castro had said earlier this month: "With Gameiro the only thing we want is for him to sign a new contract and stay with us. He still has two years of contract with Sevilla. We will not look at any offers for him at the moment."
Atleti forward Luciano Vietto will move in the other direction on an initial loan basis, Sevilla later announced.
A post on the Andalusian club's English Twitter account read: "[Sevilla and Atletico] arrive at an agreement for the loan of @LucianoVietto [with option to buy] and transfer of @kevingameiro9."