Juanmi has reportedly travelled to England in order to undergo a medical with Southampton ahead of a proposed move to the Premier League side.
The Malaga striker, who scored eight goals in 38 appearances for the Spanish club last season, is understood to have been in talks with Ronald Koeman's side for several weeks.
According to AS.com, the Saints reached an agreement with the 22-year-old and Malaga over the weekend, resulting in the forward heading to St Mary's to sign a contract.
Aston Villa and Real Sociedad have also been linked with the Spaniard, who made his international debut earlier this year.
