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Barcelona are reportedly urgently seeking a right-back following Ousmane Dembele's departure.
Coach Xavi Hernandez stated that securing a right-back was their top priority for the remaining transfer window.
Reports indicate that negotiations with the 29-year-old Cancelo are progressing positively, and respected Italian journalist Fabrizio Romano now reveals that both the player and the club have reached an agreement.
Since January, Cancelo has been a target for Barcelona, with Spanish daily Mundo Deportivo previously hinting at an imminent move.
Initially, the deal comprised a ‚¬10 million loan fee with a ‚¬40 million option to buy, along with Cancelo's full salary. It remains unclear whether Barcelona has managed to negotiate better terms.
Having used Jules Kounde as a makeshift right-back last season, securing Cancelo would provide a more natural and immediate solution for Barcelona's defence.
The club had previously been linked to Real Valladolid's young talent, Ivan Fresneda, but Cancelo would bring experience and quality to the squad.
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