Juan Cuadrado will have his medical at Chelsea tomorrow before completing his £26.1m transfer from Fiorentina, with Andre Schurrle and Mohamed Salah both heading out of Stamford Bridge.
It means the Colombia winger will not be registered in time to face Manchester City in the potential title decider tomorrow night, but his arrival will give Chelsea's squad a major boost for the rest of the campaign.
The 26-year-old, who impressed at the World Cup last summer with four assists, has already agreed personal terms. Crucially, he is also available to play in the Champions League, which resumes next month with a last-16 tie against Paris Saint Germain.
Chelsea: The players linked with a move to Stamford Bridge this month
Chelsea: The players linked with a move to Stamford Bridge this month
1/12 Gareth Bale (Real Madrid)
Newspapers in Spain report that Chelsea had a mammoth £102m bid rejected for Real Madrid's Welsh winger. It seems unlikely given the Blues' adherence to FFP, while Los Blancos claim they do not want to sell.
2/12 Andrej Kramaric (Rijeka)
The Croatian striker is attracting interest from across the Premier League with Tottenham and Leicester also interested in his services. The Foxes even had a bid accepted but the 23-year-old rejected a move to the King Power Stadium. Kramaric has 28 goals in just 30 matches for Rijeka this season.
3/12 Paul Pogba (Juventus)
The former Manchester United midfielder has become one of the most sought-after players in world football during his spell at Juventus. Still only 21, the Frenchman, who has drawn comparisons with Patrick Vieira, has helped Juventus to titles in both his seasons in Serie A, while he impressed the world at the World Cup. Could cost upwards of £40m, but Juventus have claimed that he won't be leaving during the current transfer window as they want to build 'a team of champions'.
4/12 Kwadwo Asamoah (Juventus)
The Ghanaian utility man can play on the left wing, central midfield, left-back and as a wing back and has become a crucial part of Juve's recent success. The Blues are linked with a £24m move for a player who would bolster their squad.
5/12 Kevin Strootman (Roma)
Manchester United and Chelsea are both believed to be interested in the Dutch midfielder, 24, who has played only three matches this season as he continues to recover from a serious knee injury he suffered in January. At his best, Strootman is a brilliant box-to-box threat.
6/12 Marco Reus (Borussia Dortmund)
Just about every top club in Europe is chasing the German star, who looks destined to leave struggling Borussia Dortmund at the end of the season. But with Real Madrid, Barcelona and Bayern Munich potential suitors, it may take a lot to convince the 25-year-old to come to Stamford Bridge.
7/12 Raphael Varane (Real Madrid)
A long-term target and personal favourite of Jose Mourinho's, Varane is already one of the world's best defenders. Classy in possession, a gifted athlete and smart reader of the game, Real Madrid would be foolish to allow the 21-year-old to depart.
8/12 Karim Bellarabi (Bayer Leverkusen)
The German international is one of two Bayer Leverkusen players Chelsea scouts watched in the Champions League in midweek. Bellarabi, 24, is a pacey winger who has scored an impressive seven goals and added five assists for Leverkusen this season. With Mohamed Salah failing to get into the first team, Bellarabi might be seen as a perfect replacement for the Egyptian.
9/12 Hakan Calhanoglu (Bayer Leverkusen)
The other Leverkusen player Chelsea scouts watched is a Turkish international born in Germany; the 20-year-old playmaker has also impressed for Roger Schmidt's team with six goals and four assists this season. Like Bellarabi, he would be considered one for the future rather than a first-team regular straight away.
10/12 Anderson Talisca (Benfica)
Chelsea were interested in the 20-year-old Brazilian in the summer but would not have been able to get a work permit for the former Bahia forward. He has flourished at Benfica, with nine goals this season with the club six points clear at the top of the Prineira Liga. Unlikely to move in January but a long-term target.
11/12 Munir El Haddadi (Barcelona)
The brilliant teenager is unlikely to be allowed to leave Barcelona as he likely has a bright future ahead. At just 19 has become a regular on the bench and in the first team for Luis Enrique.
12/12 Juan Cuadrado (Fiorentina)
One of the hits of the 2014 World Cup, Cuadrado has put himself firmly on the radar of a number of clubs including Chelsea. Wolfsburg's reported interest in Andre Schurrle could lead to the Blues moving for Cuadrado to replace the German, but if Schurrle stays then any deal in January is unlikely.
Fiorentina coach Vincenzo Montella confirmed at a press conference on Friday afternoon that the winger had signed for the west London club.
"It was a sale that had to be done," said Montella. "The club has done the right thing because we are also getting a very good player.
"Naturally, we need to understand how long he ( Salah) will need to adapt to our football as it's different from the English and Swiss leagues. From a defensive standpoint, Cuadrado guarantees us a lot more than Salah.
"Cuadrado is a player that has always arrived with a smile and given everything to Fiorentina. I am convinced that if he could have played tomorrow he would have.
"I'm happy for him because he is going to a big club. "
Chelsea stepped up their efforts to sign him during the week after manager Jose Mourinho urged them to meet the asking price.
Video: January transfer deals
The club had been unwilling to pay the £26.1m buy-out clause, but have struck a compromise where they will pay £23.3m and send misfit Salah there on loan for up to 18 months without charging a fee.
Cuadrado's arrival will also see the departure of Schurrle, who is set to join Wolfsburg for a fee of up to £27m.
The German international, who joined from Bayer Leverkusen for £18m in 2013, wants to leave west London after being frozen out of the first team by manager Jose Mourinho.
Wolfsburg initially bid £23.5m, but Chelsea wanted closer to the £30m mark and now the two clubs have met in the middle, with the total sum including some add ons.
The 24-year-old is expected to travel to Germany today to undergo a medical before putting pen to paper on a long-term contract.
Chelsea's transfer dealings once again shows their commitment to complying with Uefa's Financial Fair Play rules and using fringe members of the squad to fund moves for better talent.
Mourinho is looking to spend big again in the summer to improve the strength in depth, a point he felt proved by their shock exit to Bradford in the FA Cup last week when a second string took tot he field.
A number of high profile targets are on the wish-list, including defender Raphael Varane, midfielders Paul Pogba and Sami Khedira, plus strikers Mauro Icardi and Anderson Talisca.
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