Chelsea have reportedly agreed a length of contract with Atletico Madrid forward Samu Omorodion.
During the early part of the summer transfer window, the Blues saw at least two offers rebuffed for the Spain Under-21 international.
At the time, Atletico were allegedly insistent that the 20-year-old would not be sold for anything below £50m.
However, the picture has changed over the past few days, a consequence of further discussions that were instigated by Atletico's pursuit of Conor Gallagher.
The England international appears likely to move to Madrid for a fee in the region of £33m, at a time when the La Liga giants also hope to finalise an £82.5m deal for Manchester City's Julian Alvarez.
Should both transfers go through, it would leave officials at Colchoneros in need of generating funds in order to reduce the deficit that they would have racked up with the relevant financial regulations.
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Chelsea handed boost in Omorodion chase
That is where Omorodion comes in, despite the initial perception that the prospect would compete for a place in Diego Simeone's attack after an encouraging loan stint with Alaves.
With four years remaining on his contract, Omorodion did not necessarily have to be in any rush to make any definitive decisions regarding his long-term future.
Nevertheless, according to transfer expert Fabrizio Romano, the player has given the green light that he will pen a long-term contract at Stamford Bridge.
The former Granada youngster is allegedly prepared to sign a contract with the West Londoners until the end of the 2030-31 campaign.
Personal terms are also said to be agreed with the £35m deal now on ice until it is determined whether Alvarez will finalise a switch to the Civitas Metropolitano.
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Would Omorodion remain at Chelsea for 2024-25
Providing that he completes a switch to Chelsea, there has been no indication whether Omorodion would become an immediate contender for a starting role.
Head coach Enzo Maresca has indicated that he views Nicolas Jackson as a frontline striker, while Marc Guiu has made a positive impact in pre-season despite his young age.
With David Datro Fofana's exit a foregone conclusion, Maresca will theoretically face a straight decision whether he wants to keep Guiu or Omorodion as third choice behind Jackson and Christopher Nkunku.
Although Chelsea are still believed to be in the running for Victor Osimhen, there have been few signs that a deal will go through as previously anticipated.