Peterborough United director of football Barry Fry has confirmed the club have agreed a deal with a Premier League club for an unnamed defender.
Posh manager Darren Ferguson is currently looking to reinforce his squad ahead of life in the Championship after winning promotion in back-to-back seasons.
Fry has confirmed a deal has been reached, although he is unwilling to go into further details until the player has signed on the dotted line.
The player is believed to be Manchester United youngster James Chester, who made five League One appearances at the club last season, although Fry is refusing to comment.
"We have agreed in principal to sign a centre-back from a Premier League club," he told skysports.com.
"We won't be looking to release anything yet, as the paperwork is not done, but everything will be released in due course."
Peterborough are believed to have looked elsewhere for reinforcements after seeing a move for Grimsby Town captain Ryan Bennett rebuffed earlier this week.
"The manager has identified a couple of players that he wanted and he spoke to Grimsby Town manager Mike Newell who told him that the lad was out of contract," Fry continued.
"But then I spoke to the chairman who informed me that he wasn't available, and that the Mariners wouldn't be interested in selling him, not even for £1million.
"So, we agreed to end the discussions there and respected the club's decision.
"We've moved on, and are obviously close to tying up the loose ends for a player with some real top-flight pedigree, so it's a more than adequate alternative that we've landed."