Chelsea are closing in on a deal to sign Porto striker Hulk after reportedly agreeing a £38 million transfer fee with the Portuguese club.
Hulk's personal terms are not expected to be a problem and the Brazil international will become Roman Abramovich's second signing of the summer. The Chelsea owner has already agreed a £32 million deal to bring playmaker Eden Hazard from Lille just days ago.
The £70 million combined outlay is a clear indication of Abramovich's personal desire to rejuvenate an aging squad and capitalise on the club's status as newly crowned European champions, despite the fact he is yet to appoint a manager on a permanent basis.
Hulk will replace Didier Drogba at Stamford Bridge, although the 25-year-old has been earmarked to play in a wider role with Fernando Torres given assurances he will lead the line for Chelsea this season.
Porto had been happy to push the line about Hulk's release clause being €100 million, although the Guardian report that the figure is actually €60 million (£48m). However, the Portuguese club have been forced to accept less with Chelsea seemingly the only club willing to make a competitive offer.
Hulk has been linked with the Blues all season. His record is outstanding - 57 goals in 91 games in the past two seasons - and there is the belief that he can improve at Stamford Bridge.