Chelsea manager Roberto Di Matteo has praised new signing Oscar, while the club continue to chase fellow Brazilian Hulk.

Oscar was confirmed today as the Blues' latest addition, with the 20 year old playmaker said to be worth around £25 million.

And Di Matteo, who is hoping to take Chelsea back into title contention after finishing a disappointing sixth-place last season, believes that with Oscar on board, the squad will be much stronger as they prepare for their next campaign.

"He is a fantastic player, one of the youngest to push through to the Brazilian national team and he will be a fantastic signing for us," the manager told Chelsea's official website.

"Oscar is a very exciting young talent, a creative midfield player who scores goals. He will add a lot of options and solutions for us in midfield."

Meanwhile, Chelsea's pursuit of Hulk looks to have hit a snare, with the forward's current club Porto insisting that he, and fellow Premier League target Joao Moutinho, are very important to the club's future.

Oscar is now a Chelsea player, but will Hulk join him?

Porto president Pinto da Cosat told Sky Sports: "Hulk and Joao Moutinho are both in my plans for next season."

"They are our players and are very important to the structure of this team.

"I am not preoccupied by the possibility of big offers from England because I know the clear position of Porto's president on this subject."

Hulk could be a record signing for Chelsea, and football as a whole, if he does make the move to west London. The 26 year old has a sky-high release clause worth £85 million written into his contract, but the Portuguese side would likely sell him for less if the money still gives them a huge profit.

Chelsea have now made three big name signings in the transfer window, with Eden Hazard and Marko Marin joining the side early on in the summer.