Chelsea have agreed a fee in principle for Atletico Madrid forward Joao Felix, with Conor Gallagher moving in the other direction as part of the deal.
The fee for the 24-year-old Portugal international is undisclosed, but it will allow him to return to Stamford Bridge on a six-year deal with an option for a further season.
Felix's move, which is subject to a medical, will bring him back after a 2023 loan spell at Chelsea.
He scored four goals in 20 appearances in his previous spell in west London.
England midfielder Gallagher, meanwhile, is set to sign a five-year deal with Atletico .