Chelsea and Real Madrid agreed terms on Wednesday for the transfer of Belgian goalkeeper Thibaut Courtois subject to the agreement of personal terms and passing a medical.
The deal should now pave the way for Athletic Bilbao's Kepa Arrizabalaga to join Chelsea for a record 80 million euro (USD 92 million) fee for a goalkeeper.
No fee was revealed for the transfer of the Courtois, who had just one more year to run on his Chelsea contract, although Spanish media claimed that the deal is worth around 35 million euros.
Chelsea added in a statement that subject to the completion of the Courtois deal, Croatian midfielder Mateo Kovacic would join the Blues from Real on a season-long loan.
The English giants have been forced into finding a replacement for Courtois, 26, after he failed to report for pre-season training on Monday.
Courtois joined Chelsea from Genk in 2011, but spent three seasons on loan at Atletico Madrid before returning to London where he won two Premier League titles in four seasons.
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And with his two children still resident in the Spanish capital, Courtois's agent claimed earlier this week family commitments were a motivating factor in forcing a move to the European champions.
"He has made it clear to the club that the best option for him is to move to Madrid," Christophe Henrotay told the Sun newspaper.
"For him this is a big decision because he wants to be near his family, and there is an offer in place for Chelsea to accept."