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McGhee, the unpopular former Royals manager, has reportedly won the race to sign Leicester wing man Brooker.
The 27-year-old has been made available on a free transfer by Foxes boss Micky Adams having made just two appearances for the Walkers' Stadium side during an unhappy season long spell in the Midlands.
Right-winger Brooker was on loan at the Madejski Stadium last season and made some impressive performances in the Royals midfield. Steve Coppell was believed to be considering making a move to sign the attack-minded man permanently.
However, if today's reports are to be believed the Hammersmith born winger is set to begin his second spell with the Seagulls, having left the Withdean Stadium a year ago for Leicester.
Ironically, should the deal go through Brooker could make his second Brighton debut against the Royals on August 7th as McGhee's side kick off their Coca-Cola Championship campaign at the Madejski Stadium on August 7th.
Brooker made eleven appearances for the Royals during his end of season stint with Steve Coppell's side. Despite a somewhat shaky start to his Reading career he put in some impressive performances in the blue hoops.
Thus far Burnley wing-man Glen Little is the only player to have signed for the Royals this summer.