Chelsea have agreed a deal in principle to sign Timo Werner from RB Leipzig.
The Germany international striker has a €55m (£49.4m) release clause which expires on Monday June 15.
Chelsea have offered a £200,000-a-week contract to Werner, who also interested Liverpool and Manchester United.
He had publicly indicated his preference to move to Premier League leaders Liverpool but they were unwilling to pay the release clause in the current climate.
That allowed Chelsea to move in for their number one forward target, and the 24-year-old is happy to play for Frank Lampard's side. His priority has always been to sign for a Champions League club where he can play regularly.
Werner is set to join Hakim Ziyech, who is joining from Ajax for £33m on July 1, as new additions at Stamford Bridge this summer following their transfer ban being lifted by FIFA in December last year.
Chelsea were unable to sign players last year and opted not to bring in any acquisitions in January, instead focusing on their main targets this summer.
The club are also interested in bringing in a new left-back, with Leicester's Ben Chilwell their number one target.
Sky Sports' Kaveh Solhekol:
"A move to Liverpool was on the cards until the coronavirus pandemic. The loss of matchday and broadcasting income, as well as the drop in value of commercial deals and the cancellation of lucrative pre-season tour games meant Liverpool were not in a position to spend almost £50m on a player who would not necessarily be a guaranteed starter in their first team.
"Maybe Liverpool believed they could afford to play the long game. Wait until the €55m release clause runs out and see if they could negotiate a better deal."
Analysis: No surprise Werner in such high demand
Sky Sports' Nick Wright:
"Werner's name has long been linked with Liverpool, but they were not the only Premier League club said to be monitoring him.
"It is hardly surprising that he is a player in demand. Over the course of the last four years with RB Leipzig, the 24-year-old has established himself as one of the most exciting young players in the Bundesliga.
"This season has been his best yet, with 31 goals scored in 40 games so far, taking his overall total for RB Leipzig to 92 in 154 appearances. For the German national side, he boasts a total of 11 goals in 29 games.
"His RB Leipzig tally for this season includes four goals in the Champions League, one of which came during Leipzig's 1-0 win at the Tottenham Hotspur Stadium in February.
"The majority of Werner's goals have come from the central striking position this season, but he is tactically flexible - RB Leipzig have used nine different formations in the Bundesliga this season - and he is also comfortable playing in wide positions, particularly when cutting inside from the left.
"Another factor in Werner's favour is his age. The forward has already amassed closed to 300 senior appearances since making his professional debut for Stuttgart in 2013, but he only turned 24 in March."
Analysis: 'Werner versatility makes him well worth the price'
Sky Sports' Alan McInally, who won the Bundesliga in 1990 with Bayern Munich:
"He's a really good player and £50m in the world of football nowadays is as good a price as you're going to get for a player who has so much potential. What he has is a versatility, but he doesn't just play through the middle - he can play in a wide area and cuts in.
"He was playing as an out and out centre forward at Stuttgart and it was only under Julian Nagelsmann at Leipzig where he was put out wide in a game against Bayern Munich to try to counter Bayern's wide players. He's very quick and showed his ability and versatility from there.
"Chelsea have some really good young players but I don't see a problem with him coming in. I thought he'd end up at Liverpool given the German connection, but it will be a case of who Chelsea look to play alongside him.
"There's been more responsibility put on him this season and he's responded. He has sometimes even played in a No 10 role which again has shown his versatility.
"If £50m is going to be his price, that's going to be money well spent. I think he will easily score 20 goals in a season for Chelsea."