Kevin de Bruyne is set to have a medical with Manchester City before a club-record move to the Premier League side.
The outstanding issues involving the 24-year-old Belgium midfielder's proposed transfer from Wolfsburg have now been resolved.
The fee will exceed the £49m City paid Liverpool for Raheem Sterling in July.
De Bruyne was not included in the Wolfsburg squad for Friday's Bundesliga game against Schalke.
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The former Chelsea player is set to become the second most expensive signing by British club after Manchester United's £59.7m deal for Angel Di Maria from Real Madrid in 2014.
He started just five matches for the Blues after joining from Genk in January 2012 and spent 2012-13 on loan at Werder Bremen.
De Bruyne joined Wolfsburg in January 2014 for an undisclosed fee thought to be around £16.7m.
On Thursday, Wolfsburg's director of sport Klaus Allofs admitted that Manchester City had made an "astonishing" offer to the player.
He said: "We can't compete with that. I would prefer to keep him, not to get the money."