Chelsea settle on Brazilian’s transfer fee

Chelsea and Porto have reportedly settled on a £38 million transfer fee for striker Hulk, with a move set to be wrapped up in forthcoming days according to The Guardian.

The west London club have been splashing Roman Abramovich’s money in a bid to revamp their squad ahead of next season, with deals for Eden Hazard, Marko Marin and Kevin De Bruyne already in place.

With Didier Drogba leaving the club on a free transfer the Stamford Bridge side are eager to bring in a replacement frontman, with the burly Brazilian earmarked as the next big-name signing.

Chelsea are thought to have initially offered £30 million for the South American, however Porto were keen to recoup £40 million for the star.

However, with the help of financial facilitators assisting in the negotiation process, a fee of £38 million is said to have been agreed.

Hulk now only has to agree personal terms with the Champions League winners, which is said to be a formality, and pass a medical in west London.

Similar to the Hazard deal, owner Abramovich is said to have taken a hands on role in securing the transfer, with technical director Michael Emenalo assisting in the absence of a full-time manager.

By Gareth McKnight