Matt Derbyshire looks set to make a permanent switch to Olympiakos after Blackburn agreed a fee for the striker's services.
The 23-year-old, who has already been the subject of one £3million bid, will now begin discussions over personal terms having spent several months on loan with the Greek giants.
Derbyshire scored 11 goals after moving to Olympiakos in January and is believed to be keen on a permanent move to the league and cup winners.
Rovers manager Sam Allardyce is keen to generate funds for squad strengthening and is willing to allow the former England Under-21 international to leave Ewood Park.
A statement on the club's official website read: "Blackburn Rovers have reached a verbal agreement with Olympiakos for the transfer of striker Matt Derbyshire.
"Matt has now been given permission to hold talks with the Greek club."