Town have agreed a fee of £20 million plus add-ons with Aston Villa for forward Jaden Philogene, who is set to undergo a medical and complete the formalities regarding his permanent move to the Blues on Thursday.
The 22-year-old has agreed a four-and-a-half-year deal with Town and will become the club’s second signing of the January transfer window.
Philogene has long been a Town target with links first surfacing in the summer of 2023 before the England U21 international moved from Aston Villa to Hull City.
In July last year, the Blues had agreed a joint-deal with the Tigers for the forward and teammate Jacob Greaves with the Philogene side of the proposed move understood to be worth £18 million and the player having agreed personal terms at Portman Road.
However, his former club Villa had 72 hours within which to exercise matching rights as part of the deal they had agreed with the Tigers the previous summer, which they did and Philogene returned to Villa Park for £13 million - the Midlanders also taking advantage of their 30 per cent sell-on - with the forward signing a five-year contract.
But since then Philogene has made only three starts - two in the Premier League - and 11 sub appearances.
Town and Everton, another of the clubs interested in the summer, both made approaches at the start of this window with the Blues stealing a march on the Toffeemen.
According to Italian journalist Fabrizio Romano, the Londoner agreed to sign following a personal phone call with manager Kieran McKenna.
Philogene, who primarily plays on the left side, will be at the club on Thursday morning to undergo a medical and complete his switch.
The initial fee of £20 million fee is just below the club record figure of £22 million paid to Chelsea for Omari Hutchinson in the summer.
The Blues are in the market for a number of forwards this window with a number nine a priority and two players for the roles behind on the list.
On Friday, Liverpool rebuffed a £16 million offer for Ben Doak, who is currently on loan at Middlesbrough, with Crystal Palace also having made a bid.
We understand the Blues are maintaining their pursuit of the 19-year-old with the Eagles similarly continuing their interest with the Reds said to want a fee between £25 and £30 million.