Monaco are set to complete the signing of Italian forward Stephan El Shaarawy from AC Milan, according to Sky Sport Italia.
The Principality Club will splash out €2 million for a season-long loan, while a €15 million purchase option will be included in the deal.
The buy-out clause will become obligatory in case Shaarawy makes at least 15 appearances for Monaco.
At the same time, the highly rated footballer will sign a five-year contract, worth €3 million per campaign.
Monaco decided to make a move on El Shaarawy after concluding the sale of Yannick Ferreira-Carrasco to Atletico Madrid, and it is believed the deal was closed in Ibiza on Friday night.
Stephan El Shaarawy, 22, did not exactly realise his potential at AC Milan, although he did amass a total of 83 Serie A appearances since joining from Genoa, scoring 21 goals in the process. He has been capped 13 times by Italy.