Atletico Madrid forward Joao Felix has reportedly flown to London for his Chelsea medical ahead of completing a loan move until the end of the season.
The Blues are understood to have reached a verbal agreement with Atletico to sign the 23-year-old on a temporary deal and will pay a loan fee of around €11m (£9.7m) for his services as well as cover his £250,000-a-week wages.
An option to buy has not been included in the deal, with Felix instead set to sign a contract extension with Atletico until 2027 before moving to Stamford Bridge.
According to Sky Sports News, Felix has flown to the English capital to undergo his medical before finalising his loan switch to Chelsea.
The West Londoners appear to have fended off competition from fellow Premier League sides Arsenal and Manchester United, who were both strongly linked with a move for the Portugal international.
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Confirmation of Felix's move to Stamford Bridge is set to be imminent and Sky Sports News chief reporter Kaveh Solhekol claims that the attacker could be available to make his debut against Fulham on Thursday if he is registered in time.
"There's a possibility he could be involved if everything goes well and the paperwork is lodged with the Premier League by midday tomorrow (Wednesday) which is the deadline for him to play on Thursday night against Fulham," said Solhekol.
"It's a big game for Chelsea and Graham Potter. There cannot be a repeat of the kind of performance we saw against Manchester City at the weekend."
Three-and-a-half years ago, Felix joined Atletico for a club-record £114m from Benfica and was regarded as one of the brightest prospects in world football.
However, the attacker has been unable to live up to expectations at Wanda Metropolitano and has fallen down the pecking order under head coach Diego Simeone, starting only seven games in La Liga so far this season.
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Felix most recently started for Atletico Madrid in their 1-0 La Liga defeat against Barcelona on Sunday, before being replaced in the 73rd minute.
The Viseu-born attacker, who has recorded five goals and three assists across all competitions this season, is now seeking a fresh challenge and is hoping to rediscover his form under Potter at Chelsea.
Potter has already been busy in the January market, recruiting Benoit Badiashile, David Datro Fofana and Andrey Santos on permanent deals.
Felix is now on the verge of joining a Chelsea side who currently sit 10th in their Premier League table, 10 points behind the top four, while they have already been eliminated from both domestic cup competitions.
Chelsea's only hope of silverware this season is in the Champions League, where Potter's side will take on Borussia Dortmund in the last 16 next month.