Portland Timbers close in on San Lorenzo's Sebastian Blanco - sources

The transfer of San Lorenzo midfielder Sebastian Blanco to the Portland Timbers is nearing completion, sources have told ESPN FC.

Reports out of South America, including one from TyC, indicated that the deal was done, but a source with knowledge of the negotiations said that while the deal was "likely" to be completed, it is "not finalized yet." The source added that the terms of the transfer have largely been agreed, though Blanco will also need to acquire a visa and pass a physical.

A report from TyC indicated that the transfer fee was $5 million, but a source told ESPN FC that the fee was closer to $4 million. Sources have indicated that the Argentine's salary is set to be around $1.3 million.

As if often the case with transfer negotiations, the numbers have proved to be fluid. Earlier this month, sources told ESPN FC that the transfer fee was around $3 million with a salary of $1.5 million, but Portland has had to fight off interest from Liga MX side Club America as well as Turkish club Fenerbahce to acquire Blanco's services.

Blanco, 28, made his breakthrough with Argentine side Lanus in 2006 before moving to Ukrainian side Metalist Kharkiv in 2010. Blanco was sold to West Bromwich Albion prior to the 2014-15 season, but failed to make much of an impact, making just five league and cup appearances with no goals. He moved back to Argentina in 2015 and rebuilt his career with San Lorenzo.

All told, Blanco has made 229 league and cup appearances, scoring 42 goals. At international level, Blanco has made two appearances for Argentina, scoring one goal.