Sky Sport Italia claim Inter have agreed to sell Argentine Ricky Alvarez to Sunderland for €12m (£10m).
Sunderland would take creative midfielder Alvarez on loan for €1m with an option to buy for €11m that becomes mandatory if the Black Cats avoid relegation this season.
The report emerged late Wednesday night, though it had already been suggested Alvarez was on the market this summer.
Alvarez is set to receive wages worth €1.6m and was reportedly convinced by Gus Poyet to accept the challenge.
The 26-year-old Argentina international has been at Inter since moving from Velez Sarsfield in July 2011, scoring 14 goals and providing 18 assists in 90 games.