Chelsea have reached a 'verbal agreement' over the purchase of Atletico Madrid striker Diego Costa that will see them beat Liverpool, Arsenal and Manchester United to the player in the summer.

Reports in Spain suggest that the Blues have agreed to meet Costa's £32m buy-out clause in the summer.

Exuberant agent Francois Gallardo, who has a reputation for making controversial claims about transfers, insists Atletico eventually succumbed after accepting that they would not be able to hold onto the Brazilian-born Spanish international.