Chelsea have reached an agreement in principle with Benfica for Enzo Fernandez.
The Premier League club are still hoping to sign the World Cup winner in this window.
The two clubs are now working to complete the necessary paperwork before the window shuts.
Chelsea have to submit the deal sheet before the Premier League’s 11pm (GMT) deadline and then could be given an additional two hours to finalise the move.
Fernandez is currently undergoing a medical.
Chelsea have been pursuing the Argentina midfielder throughout the January window.
They renewed their push to bring him into Stamford Bridge on Monday and were locked in discussions with Benfica throughout Tuesday as they attempted to make a breakthrough.
Fernandez has a €120million release clause in his contract with Benfica.
The 22-year-old only joined Benfica last summer from his boyhood club River Plate and has made 17 appearances for the Portuguese side.
He starred as Argentina won the World Cup in Qatar last month.
GO DEEPER
Is Enzo Fernandez really worth £105million after so few senior matches?
(Photo: Getty Images)