UPDATE: Five hours after this story, the deal was officially announced.
Josh Waters is being lined up for the second Tyco Suzuki MCE British Superbike seat, alongside the newly announced John Hopkins.
Waters, who claimed his Australian Superbike titles on a Suzuki, finished a troubled rookie BSB season with Halsall Kawasaki - claiming a season best fourth in the Brands Hatch finale - after losing his Milwaukee Yamaha ride to Tommy Bridewell.
Tyco Suzuki finished third in the 2013 standings with another Australian, Josh Brookes, whose team-mate was young American PJ Jacobsen. Brookes is tipped to join Milwaukee Yamaha, whose lead rider James Ellison has switched to the new GBmoto Kawasaki project.