Gradi however has revealed that if his agent produces a list of "outrageous demands" then the deal could be off.
Gradi is known to have faxed Ugarte a contract last week while the former Real Sociedad player was on holiday and claims Ugarte has said he would sign on his return to the UK.
Ugarte is one of the most sought after players this pre-season after some devasting form in last season's League One free scoring his way to 22 goals for the north Wales side.
The list of clubs rumoured to be interested in, or rumoured to have made contact with Ugarte include Wrexham, Cardiff City, Swansea City, Crewe Alexandra, Leeds United, Sheffield United, Burnley, Darlington, Doncaster Rovers, Burnley, Ipswich, Luton among others.
Although we can only confirm that Wrexham and Crewe Alex have officially made approaches to secure the services of Ugarte.