Chelsea are reportedly close to agreeing a deal with Fluminense for Brazilian teenager Wallace.
The Blues already own a stake in the 18-year-old's contract and were granted first option to secure the defender when Deco joined the Brazilian outfit in 2010.
According to Sky Sports News, a £4.5m deal has been agreed between the two clubs which will see the teenager join Chelsea next summer.
Fluminese coach Abdel Braga told reporters: "This kid has an extraordinary future ahead of him."
Wallace will link up with the Blues in 2013.
