Greek website www.gazzetta.gr reported last night the club had agreed to terminate the final year of Essien's two-year contact.

The moves points to the A-League securing one of the biggest names for the Australian domestic competition, with a deal expected to be finalised with Melbourne Victory soon.

Along with record breaking goal scorer Tim Cahill, Essien is set to become the second big name marquee signing under the FFA guest marquee player rule.

Last week FFA chief executive David Gallop revealed Melbourne Victory had applied for Essien to be signed as the guest marquee with the governing body approving the application.

Essien had a sterling stint at Chelsea, winning two EPL titles in 2003/04 and 2004/05 and was well as the European Champions League trophy in 2001/02. The Ghanaian also represented his country 58 times and played in two World Cups in 2010 and 2014.

The money on offer from Victory is not known, however, during his time at Panathinaikos the 33-year-old was on 700,000 Euros a season.

An injury limited the midfielder to 16 appearances with one goal scored but the powerhouse midfielder showed glimpses of his abilities.

Essien also won two league titles with French side Olympique Lyon in 2003/04 and 2004/05 before moving to Chelsea where he would go on to play 168 league games over two stints.

The Ghanaian superstar also played for powerhouse clubs such as AC Milan, Real Madrid.

He played 76 games in European Champions League.