A deal to bring Atletico Madrid ace Sergio Aguero to Stamford Bridge has been agreed, and the formalities will be completed in time for the January transfer window according to reports.

Recent rumours stating that Aguero has decided against a switch to the Premier League appear wide of the mark. It had been suggested that the deadly forward was favouring an extended stay in La Liga with Atletico, especially with the World Cup in South Africa on the horizon.

However, a fee between the two clubs has now been agreed and the 21-year-old will switch to West London come the New Year for a fee in excess of £40million.

The Blues won't cough up the rumoured £55million that is thought to be the amount needed to trigger the Argentinian's release from his current deal, but their offer is set to eclipse anything Atletico have received up to now.

Carlo Ancelotti is eager to add more firepower to his squad in time for the January exodus of Chelsea's African stars, but the Italian would like to have Aguero on board now.

A sudden dip in form in the league has seen Chelsea collect just one point from a possible six in recent times, and their lead at the top of the table has been cut to three points.

In an ideal world Aguero would jet into West London today, in a bid to end the current blip, but The Blues are confident that come January, he will be on board regardless.