Julio Arca has agreed to take a pay cut in order to stay at Middlesbrough, skysports.com understands.
A deal to keep the experienced Argentine on Teesside is now close after the 30-year-old agreed to reduced terms.
Sources close to the deal confirmed to skysports.com that Arca had agreed a 'significant' pay cut, although an issue over a payment related to his old contract remains.
The former Sunderland star, who looked on his way out of the club last week, has received approaches from a number of English clubs whilst there were also Spanish sides taking an interest along with Boca Juniors back in Argentina.
But Boro are now close to extending Arca's stay on a two-year deal, and the club are hoping they can also seal the signing of Belgium international Faris Haroun this week.
Meanwhile, Boro are also being linked with a move for PSV Eindhoven's Orlando Engelaar.
The 31-year-old played against Boro in a pre-season friendly last month and is believed to have caught the eye of Tony Mowbray.
The North East club are now believed to have been in talks about a possible deal for the midfielder.
When asked about Boro's interest, Engelaar told Voetbal International after PSV suffered a 3-1 defeat to AZ Alkmaar: "I am aware of this.
"It is now up to the coach."