Hull City close in on Franjo Ivanovic after Benfica transfer breakthrough

Hull City are closing in on the signing of Benfica striker Franjo Ivanovic, with negotiations between the two clubs now focused on the final details of a deal that would bring the Croatian forward to the Premier League.

According to Portuguese outlet Record, talks have progressed significantly in recent days, with both clubs already aligned on the overall structure of the transfer. While the agreement has not yet been signed, discussions are now centred on the conditions attached to an obligation-to-buy clause.

The development represents the strongest indication yet that Hull City are set to win the race for one of Benfica's most valuable attacking assets after weeks of speculation linking Ivanovic with a move to England.

Rather than a straightforward permanent transfer, the proposed agreement is expected to see Ivanovic arrive on an initial loan with a mandatory purchase clause.

That differs from other reported proposals earlier in the summer, including interest from Galatasaray, where a loan with an option to buy had been discussed. Hull City's offer appears to have provided Benfica with greater certainty over a permanent sale.

The remaining negotiations are understood to focus exclusively on the criteria that will trigger the obligation to buy, rather than whether the transfer itself will go ahead.

Record reports that Benfica are expected to receive at least €25 million (£21.7 million) once the deal becomes permanent.

That figure would exceed the €22.8 million (£19.8 million) the Portuguese club invested to sign Ivanovic last summer, allowing Benfica to protect the value of one of their most expensive recent acquisitions.

Throughout the transfer window, Benfica have maintained a firm negotiating position, rejecting approaches that failed to meet their valuation. Their stance now appears to have been rewarded, with Hull City prepared to structure a package that satisfies the Portuguese club's financial demands.

Ivanovic has attracted interest from several clubs during the summer, with Como and Galatasaray both linked with the 22-year-old at various stages of the window.

Hull City, however, now appear to have established themselves as favourites to complete the transfer.

While interest from elsewhere remains part of the player's summer story, Record indicates the Championship play-off winners have moved decisively into pole position by reaching an advanced stage of negotiations with Benfica.

Securing Ivanovic would represent another significant statement from Hull City following their promotion to the Premier League.

The Croatian forward would add further competition in attack ahead of the new campaign, while Benfica would conclude a deal that safeguards the value of a player they only signed a year ago.

However, the transfer is not yet complete. Until the wording of the obligation-to-buy conditions is finalised and contracts are signed, the move remains subject to completion.

Key Points

Negotiations are expected to continue over the final contractual details surrounding the obligation-to-buy clause. If those conditions are agreed, Ivanovic will travel to England to complete the formalities of the transfer before joining Hull City's squad for the start of the Premier League season.