Brazilian defender Wallace has attracted interest from Italy and Germany as Chelsea consider their options, the player's agent has claimed.
The 19-year-old signed for the Blues in December, but was immediately loaned back to Fluminense.
His agent, Fred Moraes, said that the Brazil Under-20 international will link up with his new teammates at Stamford Bridge, but may be loaned out again next season.
"Wallace is leaving Fluminense on Tuesday and I think it's important to say that he will go to England in early July," Moraes told Lancenet.
"Our intention is that Wallace stays at Chelsea during his first season there, but it will depend on what Jose Mourinho decides.
"A loan deal has not been ruled out. Clubs have already expressed interest again due to all the speculation. There are two Italian clubs that are interested and a German club have sounded us out too."
Wallace broke through the youth ranks at Fluminense, making his debut as a 17-year-old in 2011.
