Chelsea have finally agreed a fee for French midfielder and Lyon player Florent Malouda. The proposed transfer of the young star has been drawn out but it now seems that a move is likely to be announced shortly. The agreement comes on the same day as Chelsea appoint Avram Grant as new director of football at the club. Grant made the switch from Portsmouth.

Malouda will likely meet with the Chelsea team for their pre season tour in Los Angeles following a medical in the UK. The agreed fee remains undisclosed at this moment in time. However Malouda carries a price tag of £13million plus and will be the only significant signing in monetary terms for the club this summer. Chelsea are also expected to sign Alex from PSV Eindhoven.

Hope remains that key players Frank Lampard and John Terry will commit their future to the club by signing new contracts.