Birmingham will seal the club record signing of Ecuador striker Christian Benitez from Mexican side Santos Laguna after he completes a medical.
The fee could eventually rise to £9m, eclipsing the £6.25m they paid for striker Emile Heskey in 2004.
Personal terms have been agreed with Benitez, who will travel to England for a medical early next week.
Benitez, who is described as a creative player, has scored 31 goals in his past 58 Primera Division games.
The 23-year-old is the son of one of Ecuador's all-time leading goalscorers, Ermen Benitez, and played in the 2006 World Cup in Germany.
But he recently underwent surgery on a shoulder injury and is unlikely to be involved when Ecuador play World Cup qualifiers against Peru on 7 June and Argentina three days later.
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