"Blackburn have given me permission to fly out to Greece to talk to Olympiakos and undergo a medical," Derbyshire told skysports.
"I am excited at the prospect of joining such a big club as Olympiakos and when I found out about the possibility of moving there it was something I looked at.
"I saw they were top of the league and I have been told by various people they are the biggest club in Greece with fanatical fans.
"I know players like Tresor Lomana Lua Lua had a spell there and fingers crossed everything all goes to plan so I can join Olympiakos.
"I had the opportunity to stay in England as other clubs were interested in me, but I fancied this opportunity to join one of Europe's biggest clubs.
"It gives me the chance to play in Europe and experience a different culture and I am really looking forward to it."