Anzhi Makhachkala have reached an agreement with Inter Milan to sign Samuel Eto'o, who will now head to Russia to undergo a medical.
• Eto'o to Anzhi: The motivation
Anzhi spokesman Alexander Udaltsov confirmed Eto'o would receive €30 million over his three-year contract, making him one of the world's best-paid players, and the club would also pay Inter a €21 million transfer fee.
A statement from the Russian club read: "Today an agreement was reached between the football clubs, Anzhi and Inter, for the transfer of Samuel Eto'o. The terms of the transfer are completely agreed on both sides.''
''Anzhi expresses gratitude to the leadership of Inter Milan for their professional and constructive approach in the negotiations.
''Tomorrow the player will undergo a medical examination, following which the player will be awarded a three-year contract. 'On Thursday, Samuel will arrive at the location of his new team and will begin preparations for the match against FC Rostov.''
Udaltsov told BBC Sport: "The contract is €21 million - €15 million paid straight away and €6 million more. Over the three years he'll get around €30 million.''
Udaltsov believes the deal represents good business for his club.
"He's a good player so of course he costs good money,'' he said. "Of course it's a very good deal for our club. Samuel is very well known all over the world.
"We hope he can help our club reach our high ambition - playing in the Champions League and doing well in the Russian Premier Liga. This shows we have a real big ambition - not only talking.
"We're always looking to sign the best players all over the world. Our club is already in the process of building a big team and of course Samuel is a big step in doing that.''
"The first step was getting Roberto Carlos to our club when everyone was laughing," Udaltsov said. "Now you see we have a lot of good players in our team - not only Eto'o but Roberto Carlos, Mbark Boussoufa - three-time best player in the Belgian league - one of the best players of PSV Eindhoven in Balazs Dzsudzsak and one of the best player of Uzbekistan in Odil Ahmedov.
"We understand we need time to rebuild the team. The fact you buy a lot of good players doesn't mean you have a good team. They need time to play with each other on the field - that's why we have set a target to be in the Champions League in three years' time.''
Anzhi market consultant German Tkachenko led a delegation from the Russian club who met with their Inter counterparts on Tuesday afternoon to thrash out the deal.
Eto'o scored 21 goals in 35 Serie A appearances for Inter last season, having helped Barcelona to Champions League glory in 2006 and 2009, scoring in the final victories over Arsenal and Manchester United.