Chelsea have signed 20 year-old Serbian Nemanja Matic for €1.75 million (£1.5m) from MFK Kosice, according to the Slovakian outfit's president.
MFK president Blazej Podolak told the club's official website, "At around 17:00 we signed the contract on the transfer.
"The success was down to the the fact that the money does not come in instalments, but immediately."
Matic was a part of the Serbian Under-21 squad that competed in this year's European Championships in Sweden, and he has been tracked by a number of Europe's leading clubs.
It is believed that the midfielder has penned a four-year deal at Stamford Bridge.
John Silk, Goal.com