Despite the transfer window being closed, there is always transfer gossip doing the rounds in the papers and we’ll keep you up-to-date with the latest news during the coming months. Today, Chelsea close in on Brazilian defender Wallace.

Chelsea are on the verge of completing the £4.4m signing of Fluminese defender Wallace, according to Sky Sports News.

The European champions already own a 40% stake in the highly-rated youngster and were handed first option on him when they allowed Deco to join Fluminese in 2010, and it appears they have exercised that right and agreed a £4.4m deal to bring the South American full-back to Stamford Bridge.

Serie A sides Juventus, Napoli, Udinese and Inter Milan were tracking the 18-year-old, as well as Premier League champions Manchester City, but the Blues have decided to buy the remaining 60% of Wallace’s rights and immediately loan him back to Fluminese for the rest of the season.

Wallace will then link up with his new team-mates next summer and compete with Branislav Ivanovic and Cesar Azpilicueta for the right back spot.

Fluminese coach Abel Braga has talked up the youngster, claiming he has an ‘extraordinary’ future ahead of him before likening him to Mariano – who was sold to Bordeaux in 2011.

“This kid has an extraordinary future ahead of him.

“He is a replica of Mariano but does not have the personality of him yet. But in the attacking third of the field, his level of crossing is superior to Mariano.”

Braga is quoted as saying by Sky Sports.

Once Wallace completes his move to Chelsea he will join an ever-growing Brazilian contingent at Stamford Bridge, which already includes David Luiz, Oscar, Ramires and Lucas Piazon.

Read more Chelsea transfer news

Are Chelsea fans excited by the imminent arrival of the latest Brazilian to join the squad? Get involved in the comments section.

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