Chelsea are reportedly working on a deal to sign Spanish forward Samu Omorodion from Atletico Madrid for £20m.
This will take the summer spending for the English club to £135m despite failing to land a marquee signing.
Atletico agreed an £81.5m deal to sign Manchester City forward Julian Alvarez on Monday and selling Omorodion will help raise funds to buy the Argentine international.
It is understood that personal terms have now been agreed with Alvarez, who will join for an initial £64.4m, with a further £17.1m in potential add-ons.
Omorodion, 20, joined Atletico last summer days after making his La Liga debut for Granada when he scored against the Madrid side.
Atletico immediately sent Omorodion to Alaves on loan where he scored eight goals in 35 appearances last season.
He is currently at the Olympics and has scored once in Spain’s run to the final. He has mostly come off the bench during the Paris Games.
Chelsea have so far spent about £115m on Tosin Adarabioyo, Kiernan Dewsbury-Hall, Estevao Willian, Omari Kellyman, Renato Veiga, Caleb Wiley, Marc Guiu and Filip Jorgensen.
They have however managed to sell Ian Maatsen, Lewis Hall and Omari Hutchinson. Other players who have left the club include Thiago Silva, Hakim Ziyech and Malang Sarr. They were all free transfers.
English midfielder Conor Gallagher is expected to complete a £33m move to Atletico while Romelu Lukaku is expected to depart the club, while the future of Trevoh Chalobah remains undecided.
