Former Reading FC striker Danny Loader is set for a move to Portugal, with both Sporting Lisbon and Porto close to agreeing a deal.

It is understood that Loader has turned down interest from Premier League sides Crystal Palace and Leeds United in favour of a move to the Portugese top tier.

Loader left the club upon the expiration of his contract amid increased financial pressures brought on by the Coronavirus pandemic.

A new deal had been offered previously to Loader, however it is understood that the contract offer was withdrawn due to the aforementioned financial constraints.

Premier League side Wolves agreed terms with Reading last Summer on a deal that was thought to be worth in the region of £7m, before a late U-turn from the club kept Loader at the club for another season.

The U17 World Cup winner failed to kick on after a promising start to his Reading FC career, having scored the club's goal of the season with his first goal for the club away at Middlesbrough in the final away trip of the 18-19 campaign.

He only scored once last season, a delightful back-heeled effort in the FA Cup draw against League One side Blackpool.

In total, the highly-rated youngster scored two senior goals in 35 appearances for Reading.