Everton have had a bid of £25million plus add-ons accepted by Norwich City for defender Ben Godfrey.
Norwich had initially rejected Everton's offer of £20m plus £6m in add-ons but the Goodison Park club countered quickly to reach an agreement.
The fee is a record received by Norwich, eclipsing the previous mark of £20m, plus £4m in add-ons, from Leicester City for James Maddison in 2018.
Godfrey, 22, is set to have a medical in the next 24 hours with personal terms not expected to be a problem.
Everton manager Carlo Ancelotti has been eager to increase his options in defence following injuries to Mason Holgate and Jarrad Branthwaite. He had also been discussing a loan for Chelsea's Fikayo Tomori but Godfrey is seen as technically skilful player with big potential.
The England U21 international, who also had interest from Fulham and Newcastle United, joined Norwich in 2016 from York City for £150,000 and played a key part in their promotion to the Premier League in 2018-19. York are due a windfall from the £25m fee as they negotiated a sell-on percentage.
Godfrey will become Everton's fifth signing of the summer after midfielders Allan and Abdoulaye Doucoure, James Rodriguez and teenage left-back Niels Nkounkou.