Chelsea attacker Omari Hutchinson has reportedly undergone a medical with Ipswich Town after the two clubs reached an agreement over a £22.5m deal.
Hutchinson has been attracting significant interest after playing a crucial role in Ipswich's successful promotion bid from the Championship last season.
The 20-year-old made 44 league appearances during his loan spell at Portman Road, scoring 10 goals and providing six assists to help the Tractor Boys end their 22-year wait for top-flight football.
Kieran McKenna's side have been working on a deal to bring Hutchinson back to the club, amid interest from the likes of Ajax, Stuttgart and Feyenoord.
According to BBC Sport, they have now reached an agreement with Chelsea to sign Hutchinson in a deal worth up to £22.5m.
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Hutchinson undergoes Ipswich medical
Ipswich are set to pay £20m as an initial fee, plus a further £2.5m in add-ons and a sell-on clause for any future transfers.
As a result of the deal, Ipswich are set to break their transfer record which currently stands at the £4.75m that they paid to sign goalkeeper Matteo Sereni from Sampdoria in £4.75m.
Arsenal are poised to receive a percentage of the Hutchinson transfer due to a sell-on clause which was agreed when the youngster left North London for Chelsea in the summer of 2022.
With a deal now in place, The Athletic is reporting that Hutchinson has undergone a medical ahead of his imminent return to Portman Road.
As long as there are no unexpected twists, Hutchinson is expected to be unveiled as Ipswich's first summer signing in the next few days.
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Why are Chelsea selling Hutchinson?
After beginning his youth career with Chelsea, the winger spent time at Charlton Athletic and Arsenal before returning to Stamford Bridge a couple of years ago.
Hutchinson has had to settle for just two first-team appearances, making his debut in a Premier League game against Manchester City in January 2023 before featuring against the same opponent in an FA Cup tie just a few days later.
Although he impressed with Ipswich last season, there was no guarantee that he would be a regular starter at Chelsea, amid competition from Cole Palmer, Noni Madueke, Raheem Sterling, Mykhaylo Mudryk and Christopher Nkunku.
With Hutchinson not regarded as a first-team regular, Chelsea ultimately view this as a prime opportunity to agree a sale that helps them comply with the Premier League's Profit and Sustainability rules.
Hutchinson's departure will be noted as pure profit like his fellow academy graduate Ian Maatsen, who recently completed a permanent move to Aston Villa.