Chelsea are set to sign Fluminense full-back Wallace, according to Brazilian club, Fluminense.
Brazilian full-back, Wallace, 18, was on the brink of signing for Chelsea on Thursday, according to Fluminense director Rodrigo Caetano. Caetano claimed the European champions were close to tying up a deal for the 18 year old, who has been linked with Manchester City, Juventus and Napoli.
According to reports, Chelsea have held an astonishing 40% of Wallace's economic rights since 2010 – following Deco's free transfer from Stamford Bridge to Fluminense, and the London club were ready to pay £4.4million for the Brazilian.
Fluminense's manager, Abel Braga told the Brazillian news website, Terra: 'Wallace has been negotiated for a long time. He is a player that has impressed – They are taking a great player and Fluminense are completely right in selling him.'
Caetano said the necessary paperwork had still to be completed for the player. He said: 'I cant deny there are ongoing negotiations with Chelsea, but the deal isnt done yet – we still have to exchange documents.'
Caetano went on to say:'And there is a non-disclosure agreement clause, and in case the information leaks, the deal might not happen – lets hope this problem doesnt prevent the deal from happening.'