Atlético Madrid have confirmed on their website that they have reached an agreement to sell left back Filipe Luis to Chelsea this summer. With Ashley Cole departing on a free transfer, the Blues have been looking for a new left back, and Felipe Luis was apparently pushing his club -- La Liga winners and Champions League runners-up for a switch to Stamford Bridge since the close of the season.
There's been plenty of back-and-forth in negotiations, with Chelsea not wanting to meet the buyout price for the 28-year-old left back, but in the end the club have their man, presumably for below the €25 million price that's been floating around for some time.
Although this signing is still pending a medical and personal terms, it's now all but official. With Diego Costa already signed, Thibaut Courtois probably returning from loan and Filipe Luis in, Chelsea have three key pieces from Atletico Madrid's title run in place; acquiring players from Spain's top team last year probably isn't a bad recipe for a club hoping to make a serious run at the title this season.
Update: Chelsea have now confirmed that an agreement has been reached as well.