Report: Everton close to signing Real Madrid flop James Rodriguez

Everton are on the verge of signing James Rodriguez from Real Madrid.

Confirmation of Rodriguez's arrival at Goodison Park is considered imminent after he agreed to a three-year contract that will reunite him with Carlos Ancelotti at Everton, reports Jason Burt of The Telegraph.

It's unclear how much Everton will pay for the Colombian international, but Real Madrid were reportedly demanding €25 million (£22.3 million) before talks began last week.

The 29-year-old has yet to arrive in England, but to work with Ancelotti again, he's reportedly agreed to a deal that will pay him significantly less than his Real Madrid contract.

Rodriguez, who joined Real Madrid from AS Monaco for £63 million in 2014, played under Ancelotti during his first season in Spain. They worked together again at Bayern Munich when the midfielder was loaned to the German club after struggling at Real Madrid.

Despite getting in on the celebrations when Real Madrid won La Liga last season, opportunities were hard to come by for the 2014 World Cup Golden Boot winner. He was limited to just eight league appearances under manager Zinedine Zidane.