Sao Paolo have announced that Juventus abandoned their advanced negotiations for Lucas Piazon, so he is heading to Chelsea.
The Italian newspapers were buzzing at the 17-year-old Brazilian talent, nicknamed ‘the new Kaka', during the January transfer window.
"It is a big deal for the club," said Sao Paulo vice-president Carlos Augusto de Barros e Silva.
"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."
The transfer to Chelsea is thought to be worth £5.3m, 80 per cent of which will go to Sao Paolo, and will start from January 2012.