Chelsea are close to finalizing a deal with Manchester City for the permanent signing of striker Cole Palmer.
A source said Sky Sports News Palmer is expected to undergo a medical on Thursday.
The deal is worth around £40m.
If the deal goes through, spending at Chelsea under the ownership of Todd Boehly-Clearlake Capital would rise to £1.02 billion.
It will also take their spending this summer alone to £419million. In over five years and 11 transfer windows under Mauricio Pochettino, Spurs have spent just £412m.
Palmer played in the Premier League opener against Burnley and was on the bench in the last two games.
The 21-year-old, who scored in the Community Shield against Arsenal and the UEFA Super Cup against Sevilla, is pushing for more first-team opportunities.
Manchester United made an offer to Chelsea for the defender Marc Cucurellawith discussions ongoing between the two clubs.
Talks revolve around a loan deal for the 25-year-old Spanish left-back.
Speaking after Chelsea win 2-1 over AFC Wimbledon in the Carabao CupPochettino said: “I don’t know anything. When he trains with us he is in our plans, but if things happen it is the club’s decision.”
When it is insisted that there is some truth in a deal struck with Manchester City to Palmer, Pochettino added, “I don’t know anything at the moment.”
Joe Shread from Sky Sports:
Stay or go? A crucial few weeks lie ahead for Manchester City winger Cole Palmer, weeks that could define how far his blossoming career goes.
The 21-year-old has certainly shown his skills with City Blue this season, scoring both of his side’s goals in the Community Shield and UEFA Super Cup matches this month.
Both goals demonstrated his wide range of skills: at Wembley he slotted a superb effort past Arsenal goalkeeper Aaron Ramsdale, while his header against Sevilla in midweek showed another side to his game.
Add to that his role in helping the England Under-21 team win the European Championship earlier this summer and it’s clear that Palmer has the winning touch in him.
But with player and manager Pep Guardiola casting doubts over the winger’s future, will that winning aura be with City or another team?
Who will be on the move in the last days of the transfer window before it closes on Friday September 1 at 11 p.m. in England and midnight in Scotland?
Keep up to date with all the latest transfer news and rumors in our dedicated Transfer Center blog on Sky Sports digital platforms. You can also follow the ins, outs and analysis on Sky Sports News.