Chelsea have agreed to sign 17-year-old Estevao Willian from Palmeiras for an initial fee of £29 million.
The agreement contains performance-related incentives for one of Brazil’s most highly rated young players.
It is another large outlay by Chelsea, but continues their strategy of trying to sign the best young talent in the world.
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The Blues have brought in a number of young players from South America in recent times, including Andrey Santos, Deivid Washington, Angelo and 17-year-old Ecuadorian forward Kendry Paez, who will arrive in 2025 from Independiente del Valle.
Chelsea have also recruited Sam Jewell from Brighton, where he was involved in their global talent-spotting network, especially in South America.