Al-Ittihad are in advanced talks with Celtic to sign Jota for a deal worth £25m.
It is understood negotiations at this point are centred around the initial fee and structure of payments and add-ons.
Once there is an agreement, personal terms with the Saudi Pro League club are likely to be a formality and the move could be completed next week.
Benfica would be due 30 per cent of any future transfer fee for Jota, who joined Celtic on loan in 2021 before the Glasgow club triggered a buyout clause last summer.
Jota, who signed a five-year deal, scored 15 goals and provided 12 assists last season.
Al-Ittihad have recently signed Karim Benzema from Real Madrid and N’Golo Kante from Chelsea, following their PIF takeover.
Celtic complete signing of Tilio from Melbourne City
Celtic have announced the signing of Australia international Marco Tilio from Melbourne City.
The 21-year-old winger has agreed a five-year deal at Celtic Park and becomes the second signing of Brendan Rodgers’ second spell at the club.
Tilio, who follows a host of Australians to pull on the green and white hoops, told Celtic TV: “I’m ecstatic that I’m coming over to Europe, coming to such a big club and team, and I’m super-excited.
“I hope to bring all my qualities, take on players in and around the box, help the team contribute to goals with assists and hopefully put a few in the back of the net as well.
“It’s an amazing opportunity for myself and having seen Aussies go over there and do well at such a prestigious club, it’s a massive opportunity for myself that I couldn’t deny.
“And being around those guys, Aaron Mooy and Tommy Rogic, in the national team camp over recent years, obviously helped make my decision easier.”
Rodgers: A good time to strengthen
Sky Sports News understands the club’s board will back Brendan Rodgers in the transfer market to help him deliver domestic success and compete in the Champions League.
Celtic have already signed midfielder Odin Thiago Holm on a five-year deal, as he became Rodgers’ first signing since returning to Glasgow and the Parkhead boss is keen more follow.
“It’s a good time to strengthen whenever you have done well,” he said. “It’s not going to be lots of numbers.
“Over the last couple of years they have built a squad, so it’s a case of developing that and adding quality where we can. I’m really excited with the players here because it’s a young squad and there’s still a lot of growth in that.”
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