Everton have finally reached an agreement with Swansea City to sign Gylfi Sigurdsson, who will move to Goodison Park for a club-record fee of £45m subject to completing a medical on Wednesday. The breakthrough will come as a relief to both clubs after protracted talks and negotiations that have lasted for more than a month.

Swansea rejected several offers from Everton for Sigurdsson, with the Welsh club valuing the 27-year-old at £50m, yet a compromise was eventually reached for a player who was directly involved in 22 Premier League goals last season.

Sigurdsson was not part of the Swansea squad that drew 0-0 with Southampton on Saturday in their opening Premier League game and has not played a match of any description since a pre-season friendly at Barnet on 12 July. His decision to pull out of the club’s pre-season tour the following morning made clear his intention to leave and prompted Swansea to adopt a strong stance over the terms of his departure.

Swansea will now press ahead with reinvesting the Sigurdsson money by making a couple of signings of their own, starting with Wilfried Bony, who is expected to rejoin from Manchester City. The Ivorian had a hugely successful spell at Swansea prior to moving to the Etihad Stadium and a deal in principle is believed to be in place to bring him back to the Liberty Stadium.

Nacer Chadli has been targeted as a more direct replacement for Sigurdsson, with the Belgium international keen to leave West Bromwich Albion after less than a year at the club.

Chadli joined Albion from Tottenham Hotspur for £13m last August – Swansea also showed an interest in signing him at the time – but the Midlands club will be looking to recoup significantly more for the 28-year-old.

Joe Allen, another former player, is also of interest to Swansea, yet that move seems highly unlikely. Stoke are determined to hold onto the Wales international, who was available to Swansea when he left Liverpool in 2016, and there is no suggestion that Allen has agitated for a move.

Meanwhile, Sigurdsson’s imminent arrival has seen Gareth Barry complete his move from Everton to West Bromwich Albion. The 36-year-old former England midfielder, who missed Everton’s opening Premier League match of the season against Stoke City because of an ankle problem, has signed for the Baggies on an initial one-year deal for an undisclosed fee.