According to a report from Football Insider, Galatasaray are preparing a 'huge contract offer' to take King to Turkey, with Everton set to reject the chance to extend King's stay at the club.
King, who is now 29, left Bournemouth to join Everton on a short-term deal in January, but he has failed to establish himself as a reliable forward for the Toffees, playing just eight times in the Premier League, failing to score in them.
The deal with Galatasaray is set to go through next month, yet there is nothing to suggest that Bournemouth will receive anything from the transfer.
King has had a season to forget so far, struggling in the Championship after missing out on a move last summer, and as he was unsettled at Bournemouth, he left in January and his struggles continued for the second half of the season.
Whilst King is 29, he could still go on to have a very successful stint in Turkey with Galatasaray, and the contract he is set to receive is said to be very substantial in terms of finances.
The Norwegian's most successful season in the Premier League came in 2016/17, when he scored 16 league goals in 36 games for Eddie Howe's resilient Bournemouth side.