Skysports.com understands Manchester City have agreed a deal for Felipe Caicedo from Basel.
The Ecuador international has agreed terms and passed a medical to pave the way for his move to Eastlands.
City have been keeping tabs on the 19-year-old striker since last summer's Copa America where he impressed with Ecuador.
Sven Goran Eriksson has been looking to bolster his attacking options after allowing Rolando Bianchi and Georgios Samaras to leave the club on loan.
City are waiting to find out if their work permit application for Caicedo is successful before completing the move.
Caicedo could be joined at City by Portsmouth striker Benjani, who is believed to be undergoing a medical in Manchester.