Chelsea look set to add to the signing of Oldham starlet Danny Philliskirk by landing Claudio Pizzaro from Bayern Munich on a free transfer.
The experienced Peruvian striker is out-of-contract at the Allianz Arena and is understood to have held talks with Chelsea, Juventus and former boss Felix Magath at Wolfsburg.
However, Pizarro is expected to put pen to paper on a four-year deal at Stamford Bridge with unsettled defender Khalid Boulahrouz tipped for a move in the opposite direction.
Boulahrouz has failed to perform in England following his £10 million move from Hamburg last summer and would welcome a return to Germany.
Meanwhile, agent Rune Hauge has revealed that England's top five clubs are monitoring Morten Gamst Pedersen.
The Blackburn winger, 25 has become a target for Manchester United, Chelsea, Liverpool, Arsenal and Tottenham.
Hauge told Dagbledet: "All the big five follow Morten's situation. We are in contact with the clubs. Morten plays in a special position on the left and can play as well both in 4-3-3 and 4-4-2.
"The big ones might not have space for players of his type and we might see players in that position leave some of the clubs in the coming weeks."
Chelsea's interest in Pedersen maybe fuelled by the uncertainty over the future of Dutch winger Arjen Robben who has yet to sign a contract extension and has been linked with a move to Bayern Munich.
However, Chelsea appear to have lost out on Barcelona youngster Iago Falque after he elected to remain in Catalunya.
Frank Arnesen's scouting network earmarked the youngster for a move to the Blues but the Spanish youth star rebuffed the offer to move to West London.
The 17-year-old was offered terms by Arnesen, but has instead opted to remain with Barcelona 'B' for the coming season with the hope of making the breakthrough to Frank Rijkaard's first team.
But Chelsea are delighted with the signing of 16-year-old Philliskirk, son of Latics youth team coach Tony, who signed a four-year deal.
Philliskirk will undertake a two-year scholarship before moving onto a professional contract for the remainder of his spell.
Oldham chief executive Alan Hardy told the club's official website: "We're delighted for Danny - he is joining a massive club with fantastic resources which will help him develop his game.
"Talking with Tony, I know he has been impressed with the facilities. Danny has four years of security and time is now on his side to develop into an excellent player. Also, we may have an opportunity of taking him on loan at some stage."
Oldham are expected to benefit from numerous add-ons and Chelsea have agreed to send some of the club's top youngsters out on loan to Boundary Park.
