Mercado, 22, is close to being sold by Independiente della Valle.
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AS reports that Sevilla have reached a verbal agreement to sign the midfielder in the summer transfer window.
The Spanish club hopes to land Mercado for €6m.
However, the transfer is not yet complete - and it's suggested that there is competition for the player's signature from the Premier League.
English giants Chelsea have hopes of hijacking the transfer and signing the midfielder. Chelsea have already done business with Independiente della Valle in the past regarding Kendry Paez.
The Ecuadorian's contract with Independiente del Valle runs until 2027.
