Chelsea have agreed a £30m deal with Leicester for Kiernan Dewsbury Hall and the player has been given permission to undergo a medical.
The 25-year-old is set to join new Blues manager Enzo Maresca in swapping the King Power Stadium for Stamford Bridge this summer.
Dewsbury-Hall scored 12 Championship goals and registered 14 assists under Maresca last season.
The Dewsbury-Hall deal helps Leicester hugely towards meeting Profit and Sustainability Rules (PSR) but it remains to be seen whether they will be fully compliant.
A separate deal for 18-year-old Chelsea midfielder Michael Golding moving in the direction is also currently being finalised.
Golding made just one senior appearance for the Blues last season – his professional debut in the FA Cup victory over Preston on January 6.
Chelsea fixtures: Awkward Dewsbury-Hall return in November?
Enzo Maresca will host former club Manchester City in his first Premier League game as Chelsea head coach.
Maresca – who had two spells as a coach at City under Pep Guardiola – replaced Mauricio Pochettino at Chelsea this summer and will welcome his former club to Stamford Bridge on Sunday August 18, live on Sky Sports, kick-off 4.30pm.
The 44-year-old Italian was plucked from Leicester after guiding them back to the Premier League and will return to the King Power Stadium when Chelsea visit on Saturday November 23.
The Blues face a tricky period in October and November, playing Liverpool, Newcastle, Manchester United and Arsenal in successive fixtures, while their first meeting with Tottenham is on Saturday December 7, and they host Fulham on Boxing Day.
Chelsea also look set for a daunting May, closing their top-flight campaign with games against Liverpool, Newcastle and Man Utd, before travelling to Nottingham Forest on the final day on Sunday May 25.
When does the summer transfer window open and close?
The 2024 summer transfer window in the Premier League and Scottish Premiership is officially open.
The window will close on August 30 at 11pm UK time in England and at 11.30pm in Scotland.
The Premier League and Scottish Premiership brought forward Deadline Day to link up with the other major leagues in Europe. The closing dates were set following discussions with the leagues in England, Germany, Italy, Spain and France.