The 24-year-old front-man is currently plying his trade with Estudiantes - who he helped to the Copa Libertadores title earlier this year.
Boselli finished as top scorer in the tournament with eight goals and he impressed a host of scouts as he scored the winner in the final against Cruzeiro of Brazil, with Manchester City even linked with a move earlier this year.
Boselli has an Italian passport which means he does not need a work permit to play in England, and that has seen him attract a great deal of attention.
Blackburn and Sunderland had been keen, but they now look to have satisfied their striking options for the new season, which has left the likes of Bolton, West Ham, Hull City and Wigan to battle it out for the player.
Boselli's British representative Barry McIntosh confirmed there was substantial interest in the player.
"Mauro is one of the best strikers in Argentina and it is little surprise there is such interest in him," he told skysports.com.
"We cannot go into details at this point, but a move before the transfer window shuts does look possible."