Tottenham Hotspur look to have landed Davies, who was also the subject of a bid from Liverpool.
Davies will join up with the squad on their pre-season tour in the United States, and is set to complete his medical at the club on Sunday.
The Welsh international had been the subject of an £8million rejected bid from Liverpool earlier in the week, with Spurs’ reported agreement rumoured to be around the £10million mark.
The imminent Davies deal also took an interesting twist on Saturday night, as midfielder Gylfi Sigurdsson was pulled out of the Tottenham squad for their friendly with Seattle just moments before the start, suggesting that he may be on the way back to Swansea as part of the deal.
Davies has been one of Swansea’s star players over the last two season as he fended off competition from countryman Neil Taylor to cement down the left-back spot. Since then, he has gone from strength to strength, and at just 21-years of age has proved one of the strongest full-backs in the Premier League.
Davies was reportedly approached by Liverpool after their pursuit of Alberto Moreno hit a stumbling block, with Sevilla wanting a reported £18million for his services.
Davies now looks to be on the way to Spurs, who have been short of a permanent left-back since Benoît Assou-Ekotto left for QPR. Danny Rose had taken the role for part of the 2013/14 season, but Davies should now slot straight in following completion of his move.