The Reds have accepted a bid of around £3 million from Premier League side Wigan Athletic for teenage sensation John Stones.
He will travel to Lancashire to discuss terms with the Latics.
The 18-year-old full-back has turned in several fine performances so far this season and has been the subject of constant speculation, with Everton, Man City, Fulham and Sunderland all being linked to Stones.
But now, the Reds have accepted a bid for their prized asset, and if the transfer goes through, will be the second most expensive player the Reds have ever sold, after Ashley Ward's £4,500,000 move to Blackburn in 1998.
Barnsley born and bred, Stones has made a total of 29 appearances for the Reds since coming through the ranks at Oakwell and now his talent looks set to be tested in the top league in England.
Meanwhile, the Reds have terminated the contract of defender Lee Collins by mutual consent.
24-year-old Collins joined last season from Port Vale, initially on loan but the move was made permanent over the summer. However, he has not appeared once for the Reds this season, and was farmed out on loan to Shrewsbury Town, where he made eight appearances.