Fulham will break their record transfer fee when they complete the £4.5m signing of the French Under-21 international Steed Malbranque from Lyon today.

The Belgian-born attacking midfielder was in London yesterday and finalised personal terms to join the newly promoted Premiership side.

The former French youth team captain needs to complete a medical for the transfer to go ahead, a formality according to Fulham’s managing director Michael Fiddy. He said: “We are pleased and indeed delighted that Malbranque should choose to join Fulham. He will be a fantastic addition to the squad.”

Despite Malbranque’s imminent arrival it has been a summer of failure for Fulham in the transfer market as the Craven Cottage manager Jean Tigana has had bids for West Ham’s Frédéric Kanouté and Anderlecht’s Jan Koller turned down. Also, when they were on the verge of making a big-name signing, John Arne Riise from Monaco, the Liverpool manager Gérard Houllier showed no solidarity to his compatriot by stealing the player from under Tigana’s nose.

This time though, Tigana has got his homme and the 21-year-old, who made his debut for Lyon three years ago, will bolster a club which makes its first appearance in the top flight since 1968, starting off against the champions Manchester United.

Malbranque, who thus becomes Tigana’s sole first-team signing of the summer, has made over 50 appearances for Lyon but said he grew increasingly frustrated with French league football. He said: “There are plenty of other French players in England and I am sure I can be a success. I feel the time is now right to move and I’m pleased it is with such an ambitious club.”

Malbranque was courted by Arsenal two years ago but felt the time was not right to leave. He was recommended to Fulham by Tigana’s assistant Christian Damiano, who managed the French Under-18 team when Malbranque was captain.