Birmingham boss Alex McLeish, obviously an admirer of McFadden from his time in charge of the Scottish national side, has been chasing the out of favour forward in recent weeks.
There were reported bids of £2.5 million and £3 million rejected, but a bid closer to £5 million is rumoured to have been accepted by The Toffees.
An unnamed source reportedly 'close to Birmingham' has released a statement implying a move has almost been finalised.
"The two clubs have moved closer to reaching an agreement and something could be done by the weekend. You wouldn't be far wrong in saying that," said the source.
McLeish will no doubt look to rekindle the goal-scoring form from within McFadden that saw the Scot net a fantastic winner against World Cup finalists France during their Euro 2008 qualifier.
McFadden has scored 13 times in 37 appearances for Scotland.
There were reported bids of £2.5 million and £3 million rejected, but a bid closer to £5 million is rumoured to have been accepted by The Toffees.
An unnamed source reportedly 'close to Birmingham' has released a statement implying a move has almost been finalised.
"The two clubs have moved closer to reaching an agreement and something could be done by the weekend. You wouldn't be far wrong in saying that," said the source.
McLeish will no doubt look to rekindle the goal-scoring form from within McFadden that saw the Scot net a fantastic winner against World Cup finalists France during their Euro 2008 qualifier.
McFadden has scored 13 times in 37 appearances for Scotland.
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