Many of the actual contracts will apparently be signed in the coming hours and days, ahead of the Singapore grand prix this weekend.
Marca is following the story closely, as both of F1's Spanish drivers are centrally involved.
Satisfied with the Renault engine deal, Fernando Alonso looks set to stay at McLaren, but it is rumoured the British team "has proposed a salary reduction" for the 36-year-old due to the lost millions in Honda backing.
Red Bull junior Pierre Gasly looks ready to step in, but the Frenchman may have put his foot in it by declaring to the Japanese press that he is looking forward to debuting at Sepang.
"I just said I was hoping to drive for (Toro Rosso) soon," he clarified on Twitter. "(I) never mentioned Malaysia. (They are) just twisting my words."
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