Chelsea have agreed a £30m fee with Leicester for midfielder Kiernan Dewsbury-Hall.
The 25-year-old is set to have a medical at Stamford Bridge and will sign a six-year deal until 2030.
The player rejected a similar move to Brighton last week.
Leicester were targeting £40m for Dewsbury-Hall and an earlier bid from Chelsea was rejected, but significant pressure from Premier League profit and sustainability regulations may have been a factor behind them accepting less.
The Foxes are also reportedly in talks to sign midfielder Michael Golding, 18, from Chelsea, which may be factored into the calculations.