Barcelona have agreed a deal to sign Malcom from Bordeaux for an initial 41 million euros (£36.5million) just a day after Roma announced they had a deal of their own.
Malcom had been linked with Everton and Inter Milan but Roma announced on Monday they had agreed a deal with Bordeaux worth 40m euros for the Brazilian.
However, the 21-year-old attacking midfielder has agreed a five-year contract at the Nou Camp and will undergo a medical on Wednesday.
— FC Barcelona (@FCBarcelona) July 24, 2018
Malcom began his career in his homeland with Corinthians and was part of the Campeonato title winning side of 2015 before moving to France in January 2016.
Malcom, who has yet to represent his country at senior level, spent three seasons with Bordeaux, scoring 23 goals in 96 appearances.
He follows fellow Brazilian Arthur to the Catalan club this summer.
The initial 41m euros deal has an additional 1m euros in variables.