Chelsea reach agreement for £34m deal, following contract rejection: report

ATLANTA, GA JULY 31: Chelsea head coach Enzo Maresca reacts during the friendly between Chelsea FC and Club America on July 31st, 2024 at Mercedes-Benz Stadium in Atlanta, GA. (Photo by Rich von Biberstein/Icon Sportswire via Getty Images)
(Image credit: Getty Images)

Chelsea's busy summer looks set to kick into another gear after reaching a transfer agreement with Atletico Madrid for a contract rebel.

The Blues have already sealed a number of high-profile incomings and outgoings as they look to continue their youth-focussed recruitment overhaul while balancing the books with some major first team departures.

Enzo Maresca's side look far from finished in the transfer market, with rumours continuing to swirl regarding potential incomings and departures. 

VIDEO: Why Signing Archie Gray Was A Masterstroke By Spurs

Chelsea agree deal following contract rejection

Despite their infamous spending habits over the last few years, Chelsea have managed to stay afloat thanks to some shrewd sales of players not quite deemed untouchable.

Kai Havertz, Mason Mount and Ian Maatsen have all departed for fees north of £35 million in the last two years, while sizeable fees for ageing squad members such as Mateo Kovacic and Kalidou Koulibaly have helped fund the Stamford Bridge revolution.

Such deals have seen them pocket well over £300 million in the last 18 months alone, more than any other Premier League side in the same timeframe, with reports suggesting that amount will continue to grow before the end of the transfer window.

LONDON, ENGLAND - NOVEMBER 6: Conor Gallagher of Chelsea celebrates after Nicolas Jackson scores Chelsea's third goal during the Premier League match between Tottenham Hotspur and Chelsea FC at Tottenham Hotspur Stadium on November 6, 2023 in London, England. (Photo by Visionhaus/Getty Images)

Conor Gallagher could be on his way out of London (Image credit: Getty Images)

Next on the chopping block is academy graduate Conor Gallagher who, at just 24 years old, has already captained the Blues on numerous occasions.

The England international has been the focus of regular speculation since his blistering loan spell at Crystal Palace, with a move to Tottenham Hotspur widely touted last summer.

However, it appears Gallagher's time at Stamford Bridge is edging to a close after journalist Ben Jacobs revealed that a £34 million deal for the player had been agreed with Spanish giants Atletico Madrid.

LONDON, ENGLAND - JANUARY 23: Conor Gallagher of Chelsea during the Carabao Cup Semi Final Second Leg match between Chelsea and Middlesbrough at Stamford Bridge on January 23, 2024 in London, England. (Photo by Vince Mignott/MB Media/Getty Images)

Gallagher has been a mainstay during a rocky period in Chelsea's recent history (Image credit: Getty Images)

The Athletic also claims that Gallagher rejected a contract offer from his boyhood club after they refused to offer him financial parity with the club's top earners.

This left the midfielder with just one year on his deal, forcing Chelsea into a sale this summer for a fee shy of the quoted £50 million price tag of last season.

The move would make Gallagher the 24th English player to play in La Liga, following in the footsteps of the like of David Beckham, Michael Owen and Jude Bellingham.

More Chelsea stories

Chelsea retain interest in world-class star - but have made move for alternative: report

'Carlo Ancelotti had a big emphasis on how to score goals. He gave me a DVD of Pippo Inzaghi to illustrate what he wanted - in the next game I scored in the Champions League': Former Chelsea striker highlights skill Italian boss possesses

Chelsea and Tottenham target breaks transfer silence amid Champions League 'dream'

James Ridge is a freelance journalist based in the UK. He recently spent time with The United Stand as an online news editor and has covered the beautiful game from England’s eighth tier all the way to the Premier League.