TRANSFER LATEST: '˜Sensational' Moncur speaks to Posh, Barnet striker on McCann's radar

Fry has confirmed Posh have agreed a fee - believed to be £500,000 - with League Two side Colchester for the 22 year-old midfielder. He also revealed that Moncur has met with Posh manager Grant McCann and personal terms have been verbally agreed.

But Moncur has not yet signed, and he is now on holiday for a fortnight. Championship side Barnsley are also understood to have agreed a fee for Moncur, while League One outfit Charlton have shown an interest.

Fry also confirmed a Posh interest in teenage striker Mathew Stevens, a prolific youth team striker who has just fallen out of contract at League Two side Barnet.

“We have had a bid accepted for George, but the deal has not yet been finalised,” Fry said. “George and his father have met Grant McCann. Grant used to play at West Ham with George’s father (John Moncur) and they got on great.

“We have agreed personal terms with George and his agent, but until he signs it is not a done deal. I’m sure Barnsley could blow us out of the water wages wise, but George says it’s not all about the money so we’re hopeful.

“George is a terrific talent and we like him a lot. He’s the sort of player Grant loves, good on the ball and capable of scoring and creating goals. He would be a sensational signing for us.

“We bid a little bit more than we initially wanted to because we are convinced he would be a great signing. I set the deal in motion before going to Portugal and while I was out there the deal progressed a bit further.

“Grant also likes Mathew Stevens a lot. He scored a couple of hat-tricks against our youth and under 21 sides and he’s just an out and out goal-scorer.

“I have spoken to Barnet as there would be a compensation fee even though the player is out of contract.”

Scottish giants Rangers are also understood to be interested in Stevens, who has made just 12 appearances for the Bees, 10 as a substitute. He has scored one first team goal in a 2-1 League Two defeat at home to Wimbledon in February.

Moncur started his career at West Ham and, after loan spells at Wimbledon and Partick Thistle, joined Colchester in August 2014. He scored 23 goals in 97 appearances for Colchester, but the Essex-based club are happy to sell following their relegation from League One last season.

Fry expects goalkeeper Ben Alnwick to sign his new Posh contract soon. The club have also started negotiations with right-back Micheal Smith over a new contract.

Fry reports there has been ‘a little interest’ in transfer-listed Posh pair Jack Payne and Luke James.