Wolves had a bid accepted for Murphy earlier this week and now Blackburn have also agreed a fee with Crewe for the 23-year-old.
Crewe are resigned to losing academy product Murphy, with the classy playmaker thought to be keen to test himself at a higher level.
A number of clubs have been tracking Murphy, with Wolves and Blackburn the first to have offers accepted for the player.
Blackburn are now expected to hold talks with Murphy as they look to lure the player to Ewood Park.
Murphy, who was named Crewe's Player of the Season last term, has made a total of 186 appearances for the Alex, scoring 25 goals.
Rovers boss Gary Bowyer has already made four new signings this summer and he will hope to make Murphy number five.