According to Marca, Chelsea are set to fill one of the holes in their midfield with a player from Atletico Madrid, who used to be under contract at Chelsea. The Spanish paper is reporting that Tiago will be leaving the La Liga champions in order to earn a higher wage in London.
The midfielder is out of contract this summer, so he'll be available without any sort of transfer fee attached. It would be the second time the player has joined a Chelsea side managed by Jose Mourinho, having also joined the club in 2004. Now 33, the midfielder is probably in the final few seasons of his career, and would likely be looking at a one-year contract much like the one given to Samuel Eto'o last season.
Tiago was excellent this season for Diego Simeone's side, and would immediately upgrade the depth of this Chelsea side. As long as he's not the only addition to Chelsea's midfield, I'll be very happy to have this report turn out to be true.