Chelsea have had a deal agreed for Atletico Madrid striker Radamel Falcao since December which involves on-loan goalkeeper Thibault Courtois remaining in Spain permanently, according to Punto Pelota.
The Spanish TV show report that Falcao was holding out for a move to Real Madrid, but club president Florentino Perez was unwilling to break the pact of non-aggression that exists between the two rivals, giving Chelsea a free run to seal the deal.
Although Punto Pelota make no mention of a fee, Falcao is believed to have a €55 million release clause in his contract - although the figure is unlikely to be that high if Courtois is involved in the deal.
The Belgian shotstopper is highly rated and has been on loan with Atletico for the past two seasons, and has previously expressed a desire to remain with the Primera División side for the foreseeable future.
Should Falcao arrive at Stamford Bridge in the summer, it is likely to cast doubt over Fernando Torres' future at the club.
Chelsea have been linked with a move for Falcao for some time, while Manchester City have been credited with an interest in the 27-year-old.