Spanish news outlet El Periodico Mediterraneo first reported last week that Dos Santos was set to leave Villarreal this summer following a disappointing season that saw him record just six goals and seven assists in 40 games for the La Liga club.
The report added that the Mexico international was in talks with the MLS Cup holders about a potential €7 million [£4.9 million] switch to LA, which agent Vicente Montes later confirmed was true during an interview with Univision.
"It's a strong possibility, very strong, because LA has long-been interested in signing Gio,” said Montes. “He has had a very intense life in a very short time and is contemplating the different options that are being presented.”
Talks seems to have gone well too, with Deportes Terra now claiming that Dos Santos will join LA following the summer’s Gold Cup on a deal worth around $9 million [£5.8 million] per annum.
The club currently have all three Designated Player spots filled by captain Robbie Keane, Omar Gonzalez and Steven Gerrard, respectively, but the rumoured introduction of the new “core player rule” will allow teams to pay a fourth player more than the maximum salary of $436,250 [£277,637.24].
Still aged just 26, Dos Santos is just entering the prime of his career and, as one of the stars of the Mexico national team, would be a major commercial draw among the Latino fans of Southern California.
With a potential line-up featuring the 87-times capped attacker, Gerrard and reigning league MVP Keane, the odds on Bruce Arena’s men claiming a fourth MLS Cup title in five seasons would become a lot shorter.