Chelsea has agreed on a deal with Brighton & Hove Albion for Marc Cucurella, according to 90min.
On Wednesday, the Blues were close to reaching an agreement with Brighton, but the Seagulls were quick to point out that terms had not been finalized.
Chelsea will pay £55 million for the 24-year-old, with a further £7 million in add-ons possible, meaning the deal could easily exceed £60 million.
Cucurella, who had already agreed on personal terms with Chelsea, was given permission by Brighton to travel to London on Wednesday and he has already completed most of his medical. His switch to Stamford Bridge is likely to be confirmed by midday on Friday, meaning he will be eligible to play for his new team in their season opener at Everton on Saturday.
Colwill was due to arrive on a permanent basis with a buyback clause, but the two clubs have now agreed to a straight loan. As it stands, the deal will not include an option to buy although that could change as terms are not yet fully finalized.
Brighton, though, hopes they will complete a deal for Colwill in time for him to be involved at Manchester United on Sunday.