Fabio Borini, a 19 year old Italian striker in the academy, has repotedly agreed to terms with Serie A club Parma. His contract was set to expire at the end of this season, so he was free to negotiate new terms with any team he wanted beginning this window. He's been long rumored to be seeking a return to Italy, and he'll likely see quite a bit of increased playing time at Parma. According to the players agent, Borini also attracted interest from several other Italian clubs including Lazio and Roma:
"Despite the fact [Chelsea manager Carlo] Ancelotti respects him, we have not reached an agreement with Chelsea to extend the contract, so we have decided to find an alternative solution.
"Fabio needs an environment that will allow him to show his quality, a club with a specific technical plan. In that sense, Parma is the ideal option. In the next few days we will meet again to finalise the details."
The only thing left to be determined at this point appears to be the fee Chelsea will receive, but that is likely a formality at this point rather than seeing him leave for free this summer. While players like Ballack and Joe Cole were allowed to leave to simply clear their wage bill, Borini doesn't seem to have any role with the club at present. Best of luck to young Fabio in Italy, and hopefully he gets some playing time once the move is made official.