Chelsea are on the brink of signing promising Brazilian full-back Wallace, according to his club.
The Stamford Bridge club have reportedly held 40 per cent of the 18-year-old’s economic right since Deco was transferred there in 2010 and now Fluminense have confirmed the deal is nearly completed.
Flu director Rodrigo Caetano revealed negotiations with Chelsea were ongoing, and had been for some time, but that a resolution was close, though he would not give away any of the details for fear of scuppering the transfer.
“I can't deny there are ongoing negotiations with Chelsea, but the deal isn't done yet - we still have to exchange documents,” he is quoted as saying by The Independent.
“And there is a non-disclosure agreement clause, and in case the information leaks, the deal might not happen. Let's hope this problem doesn't prevent the deal from happening.”
Wallace is a full-back that has been tipped for great things in Brazil and has represented his country at Under-17 level after making his debut in the Campeonato Brasileiro as a 17-year-old.
Wallace would be the latest of a number of Brazilian youngsters to make the switch from South America to Chelsea.
Exciting young star Oscar joined the Stamford Bridge side this summer, joining fellow senior internationals David Luiz and Ramires, while another 17-year-old, Lucas Piazon, made the switch in the summer of 2011.