Chelsea have reportedly agreed a deal to sign Juan Cuadrado from Serie A club Fiorentina with Mohamed Salah moving on loan in the opposite direction.
According to Goal, the Blues will pay the Italian club close to £25m to bring the Colombian international to Stamford Bridge during the ongoing January transfer window.
Despite Fiorentina's insistence on the Premier League leaders matching the winger's £26.15m release clause, the report claims that they have reached a compromise and will pay a lesser fee after Jose Mourinho agreed to include Egyptian midfielder Salah as part of the deal.
The Egyptian international, who only joined Chelsea a year back, has failed to settle at the club and nail down a regular place in the starting XI, making just three appearances thus far in the league this season. He has failed to make any sort of impact following his arrival, with Brazilian international Willian being Mourinho's preferred choice to fill the right-wing position.
Salah was poised to join Roma on an 18-month loan deal, but the club hierarchy intervened following interest from Fiorentina and the former FC Basel player will move to Florence on a similar deal.
Chelsea were not sure of landing the Colombian international during the ongoing transfer window and had identified alternatives in Shakthar Donetsk's Douglas Costa and West Ham United's Enner Valencia.
The former had welcomed interest from the Blues and confirmed his interest at playing for Mourinho's team. But the west London clubs were priced out of a move with the Ukrainian side demanding a hefty fee to part with the Brazilian midfielder.
Cuadrado was also extensively linked with Manchester United during last summer's transfer window and a recent report suggested that Louis van Gaal's team might submit a late bid to hijack Chelsea's move.