Chelsea are close to finalising an agreement with Manchester City for the permanent signing of forward Cole Palmer.
One source has told Sky Sports News Palmer is expected to have a medical on Thursday.
The deal is worth in the region of £40m.
Should the deal go through it would take the spending at Chelsea under the Todd Boehly-Clearlake Capital ownership to £1.02bn.
It will also take their spending this summer alone to £419m. In over five years and 11 transfer windows under Mauricio Pochettino, Spurs only spent £412m.
Palmer could find his way out of Manchester City
Palmer played in the Premier League opener against Burnley and was on the bench for the last two games.
The 21-year-old, who scored in the Community Shield against Arsenal and UEFA Super Cup against Sevilla, is pushing for more first-team opportunities.
Manchester United have made an offer to Chelsea for defender Marc Cucurella, with discussions ongoing between the two clubs.
The talks centre around a loan deal for the 25-year-old Spanish left-back.
Speaking after Chelsea’s 2-1 win over AFC Wimbledon in the Carabao Cup, Pochettino said: “I don’t know anything. When he is training with us he is in our plans, but if things happen it’s the decision of the club.”
When pressed on there being any truth in an agreement being reached with Manchester City for Palmer, Pochettino added: “I don’t know anything at the moment.”
What’s next for Palmer?
Palmer scored during the UEFA Super Cup final
Sky Sports’ Joe Shread:
Stay or go? A crucial few weeks lie ahead for Manchester City winger Cole Palmer, weeks that could define how far his blossoming career will go.
The 21-year-old has certainly showcased his talents in City blue this season, scoring both of his side’s goals in their Community Shield and UEFA Super Cup games this month.
Both goals demonstrated his wide range of talents: at Wembley he curled a stunning effort past Arsenal goalkeeper Aaron Ramsdale, while his header against Sevilla in midweek showed another side to his game.
Palmer equalised for Man City against Sevilla
Add in his role in helping England’s U21 side to a European Championship triumph earlier this summer and it’s clear Palmer has the winning touch about him.
But with both the player and manager Pep Guardiola casting doubts about the winger’s future, will that winning aura be with City, or another team?
Read the feature in full here
Follow the summer transfer window with Sky Sports
Who will be on the move in the final days of the transfer window before it closes at 11pm on Friday September 1 in England and midnight in Scotland?
Keep up to date with all the latest transfer news and rumours in our dedicated Transfer Centre blog on Sky Sports’ digital platforms. You can also catch up with the ins, outs and analysis on Sky Sports News.