Los Che have been increasingly linked with a move for the Colombian forward in recent days as they look for a replacement for Roberto Soldado who recently joined Tottenham.
Sunday saw Pabon’s Mexican employers Monterrey confirm that Valencia had triggered negotiations by meeting his buyout clause.
It was also revealed through reports over the weekend that the 25-year-old, who spent the second half of last season at Real Betis, had already passed a medical ahead of completing formalities.
However, Superdeporte are running the line that the club have managed to complete Pabon’s purchase ahead of either anticipated departure with the help of two investment funds.
It is reported that Pabon will fly out to Valencia on Wednesday or Thursday before signing off on a four-year contract.
Reports suggest Monaco are lining up a move in the region of £17 million for Sevilla midfielder Geoffrey Kondogbia.
The French midfielder impressed in his debut season for Los Nervionenses last term and has faced intense speculation over his future this summer .
Whilst Sevilla have maintained that they intend to keep hold of him, his position on the bench for the team’s opening League fixture of the season on Sunday raised speculation.
It is followed up by reports on Monday in Spain that a bid from Monaco has turned the player’s head and that a move out to the Ligue 1 side is imminent.
Cope are running the line that an offer of around £17 million, believed to be Kondogbia’s buyout clause, has come in from Claudio Ranieri’s team and that his transfer could be completed in the next few hours.
Real Madrid have also been strongly linked with the 20-year-old this summer, as have teams in England and the Bundesliga.