Lucas Piazon will join Chelsea instead of Juventus in 2012.
The 17-year-old, nicknamed the 'New Kaka', will join the reigning Premier League champions after he turns 18 in a deal that is said to be worth €7.5 million. Eighty per cent of the funds will go to Sao Paulo and the rest to his family and agent.
Juventus were keen to land the Sao Paulo starlet earlier this year but nothing ever materialized. The Brazilian club's vice-president Carlos Augusto de Barros e Silva has revealed that the deal with Chelsea enables them to pay for the signing of Luis Fabiano from Sevilla.
"It is a big deal for the club," he said, according to Sky Sports. "The value of it is almost the same as that of Luis Fabiano.
"He nearly joined Juventus earlier this year, but now everything has been resolved."
Piazon underwent a Chelsea medical in London earlier this month but had yet to formally sign the paperwork.