Bradford City have agreed a club record £2.5million transfer fee for Leeds United midfielder David Hopkin.
The 29-year-old Scottish international now has to agree personal terms with the Valley Parade club.
Premiership rivals Everton have also been chasing the former Leeds skipper.
Hopkin will become manager Chris Hutchings' third acquisition, following the arrivals of Ian Nolan and Peter Atherton if he accepts the club's offer.
His transfer would smash the previous record of £1.4m City paid for former team-mate David Wetherall and Chairman Geoffrey Richmond said it would be money well spent.
"We have agreed a fee with Leeds chairman Peter Ridsdale and we now have full permission to talk to the player," he said.
"He would be a great player to have at the club and he has been at the top of Chris Hutchings' wanted list.
"But money will still be available for more signings. By the time the season starts we would have hoped to bring in four or five players and this would be number three."
City had originally tried to negotiate a lower fee than £2.5m but Leeds have stuck to their original valuation.
Richmond added: "We have had to agree terms with Leeds and secondly we have to agree with the player himself and we will do that over the next few days.
"My personal target is that we have him in place before the end of the weekend."
Hopkin cost Leeds £3.25m when they signed him from Crystal Palace in July 1997.
He has made 73 league appearances but has been unable to command a regular place since the emergence of youngsters Stephen McPhail and Eirik Bakke.
The Scot started in just 13 games last season scoring one goal.
Hopkin was born in Morton and had spells with Morton, Chelsea and Palace before joining Leeds
He has won seven full caps for Scotland scoring two goals.
City are desperately in need of midfield cover and signing Hopkin would give the Bantams a big lift.
Coventry striker Noel Whelan, who has been linked with a £2m move to City, has ruled out a return to Yorkshire.
The want-away striker has said he would not want to move to a club which he considers to be of a lesser standing than Coventry City.
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