Porto have reached an agreement with Monaco for the sale of James Rodriguez and Joao Moutinho.
The French side's billionaire owner Dmitry Rybolovlev has given the green light to a €70m (£59.8m) move for the midfield duo, who both arrived at the Estadio do Dragao in 2010.
Colombian winger Rodriguez has previously been linked with a move to Manchester United, while Moutinho came close to sealing a move to Tottenham Hotspur last summer.
However, the pair look likely to be plying their trade in Ligue 1 next season under the leadership of Claudio Ranieri.
"Futebol Clube do Porto would like to inform the market that it has reached an agreement with Association Sportive de Monaco Football Club for the permanent transfer of players James Rodriguez and Joao Moutinho," read a statement on the club's official website.
"The combined fee of this transfer is €70m - €45m (£38.4m) for the transfer of James Rodriguez and €25m (£21.4m) for the transfer of Joao Moutinho."
Rodriguez and Moutinho have reportedly signed five-year deals at the Stade Louis II.
