Brazil midfielder Oscar has described a potential move to Chelsea as "a dream", with Brazilian media reporting that the contract will be signed on Friday.
Brazil midfielder Oscar has undertaken a medical with Chelsea whilst in England, but insists he has not yet signed a contract with the Champions League winners.
Oscar has arrived in England but Chelsea boss Roberto Di Matteo would not be drawn on the prospect of the forward moving to Stamford Bridge.
ESPN understands that Chelsea have agreed a fee with Internacional for Brazil midfielder Oscar.
Veteran forward Ronaldinho has been included in a preliminary Brazil squad for the London Olympics that also includes Chelsea defender David Luiz and Barcelona's Dani Alves.
Brazil international Neymar expects to stay at Santos until next summer's London 2012 Olympics when he hopes interest in his signature will be renewed.
Santos president Luis Alvaro de Oliveira Ribeiro has confirmed five clubs in Europe have agreed to pay Neymar's €45 million release clause.
Chelsea have been told there is no chance they will be able to sign Brazil starlet Neymar in January.
Robinho has responded to reports Pele has criticised him for joining Manchester City, insisting the Brazil icon would have done the same.