Chelsea are expected to sign Saul Niguez from Atlético de Madrid before the transfer window closes tonight.
The midfielder’s loan appears to have collapsed in the past 48 hours.
The LaLiga champions have reportedly informed the 26-year-old that he cannot leave the club.
But Sportsmail reports that a loan swap has now been agreed between the two clubs.
Saúl is eager to move to Chelsea as he seeks to regain his place in the Spanish squad.
Luis Enrique did not select him for the Eurocup and was again lost for the next international break.
Atlético are trying to trade some of their younger players on deadline day, but they don’t want to lose important older players before the window closes.