Stones became available without a fee once his Manchester City contract lapsed at the end of June, a rare situation that has drawn interest from across Europe, including Chelsea, Arsenal and Juventus.
Inter Milan, however, have moved furthest, holding positive discussions with the 32-year-old over a two-year deal worth an estimated €4-6 million a season; Fabrizio Romano has reported that an agreement in principle is already in place for Stones to complete his move to the San Siro, with terms expected to be finalised this week.
The appeal for Inter is obvious given what Stones has already achieved: alongside the six league titles, his City career yielded the Champions League, two FA Cups, five League Cups, three Community Shields, the Club World Cup and the Uefa Super Cup after his £47.5 million move from Everton in 2016.
Head coach Cristian Chivu would inherit a defender with 93 England caps who started five of the country's eight matches at this summer's World Cup — including the semi-final loss to Argentina — despite a campaign disrupted by thigh, calf and muscular problems that restricted him to just 18 City appearances last season.
Chelsea, who had eyed Stones as part of Xabi Alonso's push to add experience to his defence, and Arsenal both put themselves forward as suitors, while Tottenham's Roberto De Zerbi is said to rate him highly as a potential dressing-room leader. None of that interest has been enough to shift the balance away from Italy so far.
Inter's pursuit sits alongside their reported monitoring of Tottenham's Cristian Romero as a defensive option, underlining the scale of the rebuild under way at the San Siro — and for a club to land a player of Stones's honours list on a free transfer would count as one of the more notable coups of the window regardless of which side gets there first.