Real Madrid are on the verge of completing the signing of coveted Brazilian star Lucas Silva, according to reports in Spain.

Regarded as one of the most promising stars to emerge from the prolific Brazilian youth academy, the 21-year-old midfielder has been recently linked with a move to the Premier League after leading Cruzeiro to the championship for the second year in a row.

Arsenal manager Arsene Wenger was said to be interested in securing his services as a long-term replacement for Mikel Arteta while last summer his agent, Luiz Rocha, revealed he had also been in contact with Manchester United over a move to Old Trafford.

Cruzeiro president Gilvan de Pinho Tavares recently admitted interest from English clubs while Spanish newspaper Marca claimed last month that even though Real Madrid are closely monitoring the situation the Gunners were the only club prepared to pay Cruzeiro's £12m asking price.

But even though manager Carlo Ancelotti also recently ruled out his signing, Marca and AS now reports that the Brazilian star is set to become the second January signing of Los Blancos following the addition of Norwegian prodigy Martin Odeggard.

According to reports the Spanish giants initially had not planned to add Silva to the squad until next summer but they have since decided to advance the deal to the current transfer window as under-scrutiny Asier Illarramendi is expected to leave the Santiago Bernabeu during the current transfer window.

Marca claims that talks between Cruzeiro and the player are almost done and Silva is expected to be unveiled by Real Madrid next week.

Meanwhile, AS reports that the player has already passed a medical in Brazil ahead of an imminent move to La Liga giants.

Silva's father confirmed on Wednesday that the Spanish giants had made fresh contact with the player's agent.

"Luiz Rocha called me today and told me that negotiations with Real Madrid are back under way, but he didn't give me any more details," he revealed.