CHERRIES are today set to shatter their club record transfer by signing sought-after Ipswich Town defender Tyrone Mings.

The 22-year-old, who cost the Suffolk outfit just £10,000, will pen a four-year deal after the clubs agreed a fee of around £8million.

Although the figure is expected to be undisclosed, it dwarfs Cherries’ previous highest, which was in the region of £2.5m.

Cherries paid big money for Callum Wilson and Tokelo Rantie and, although neither fee was revealed, both were believed to have been between £2m and £3m.

Mings, who was released by Southampton as a schoolboy, was also being tracked by Cherries’ Premier League rivals Aston Villa, Newcastle and West Brom.

As part of the deal, winger Ryan Fraser will move in the opposite direction and join Ipswich on a season-long loan with no recall option.

Striker Brett Pitman is also expected to sign for the Tractor Boys, although his permanent move is not thought to be connected to the package.

Mings played a starring role for Ipswich as they reached the Championship play-offs last season, eventually losing out in the semi-finals to Norwich.

He was signed after impressing boss Mick McCarthy during a trial in December 2012 and blossomed under the former Republic of Ireland manager’s tutelage at Portman Road.

At the time, Mings had been turning out in the Southern League for Chippenham Town and combined playing semi-pro with his full-time job as a mortgage advisor.

Mings, who operates predominantly at left-back, reportedly became an £8m target for the likes of Arsenal and Chelsea, while Crystal Palace had a £3m bid for him rejected in September.

He has also hit the headlines for a series of selfless acts such as spending Christmas Day 2013 feeding the homeless, donating tickets to fans and paying to replace the replica shirts of Ipswich supporters after his squad number had changed.

Meanwhile, Cherries are also expected to announce the season-long loan signing of Chievo defender Filippo Costa who will join the club’s under-21 squad.