Manchester United's Jonny Evans is expected to be sold to West Brom
Manager Tim Sherwood has reportedly already had a £1million bid rejected by the Baggies.
But a £2m offer appears to have been enough to convince Hawthorns officials to sell up.
West Brom's resistance has finally broken after their agreed an £8m deal with Manchester United for Jonny Evans' transfer this weekend.
It is understood centre-back Evans will complete the permanent switch with time to spare as deadline day approaches.
Albion manager Tony Pulis has already signed four players this summer for an estimated £25m, including Hull defender James Chester.
Lescott, 33, arrived at the Hawthorns from Manchester City just last summer.
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The former Everton defender boasts 26 caps for England and was sold by the Toffees to City for £22m back in 2009.
He started his career at midlands club Wolves after progressing through their youth set-up.