Chelsea agree fee for Hulk

London - Chelsea's rebuilding work continues apace with reports on Friday that the club has agreed a £38 million deal to sign Brazil forward Hulk from Porto.

The deal remains subject to personal terms being agreed and Hulk passing a medical.

Porto had always insisted they wanted the full €100 million stipulated in Hulk's release clause. According to the Guardian, that figure was misleading and the true release clause was €60 million.

The Portuguese club ended up trying to keep the fee above £40 million but were haggled down.

With Eden Hazard expected to completed a £32 million move soon and deals for Marko Marin and Kevin de Bruyne already done that represents an astonishing outlay, particularly for a club without a manager.

Robert Di Matteo's contract expires at the end of June and there is no indication, despite his success in the FA Cup and Champions League, that he will be retained.