Birmingham City expect to unveil Michel as a Blues player in the coming days after finally agreeing a deal with the Spanish midfielder's club.
Sporting Gijon claim their 24-year-old captain has been cleared to make the move to St Andrew's to bring to an end a 12-month pursuit for Blues boss Alex McLeish.
The two clubs have now agreed a fee in the region of £3million and Michel is now set to travel to England for a medical before officially being unveiled as a City player.
"We thought we were pretty close to the Michel one but the weather and an illness within the Sporting Gijon director's family has delayed things a little bit, but we're hopeful it will go through," McLeish told the club's official website.
"It's been a long time. We've watched Michel for over a year and a bit now and we need to try and get this one over the line, but it looks likely.
"It doesn't look likely that anything will be completed before Manchester United (on Saturday) because the registration deadline is noon tomorrow (Friday)."
Meanwhile, McLeish has pulled the plug on his interest in Celtic winger Aiden McGeady after being rebuffed with an initial approach for the Republic of Ireland international.
"We made an enquiry but we were told he is not for sale," said McLeish.
"The situation won't change until someone says he is up for sale."