Chelsea have confirmed the signing of Timo Werner from RB Leipzig in a deal thought to be worth around £47.5m.

The Blues have won a competitive race for the striker's signature, with the likes of Liverpool, Manchester United, Real Madrid and Barcelona all having been linked with Werner in recent months.

The 24-year-old will join up with his new teammates in July after the 2019-20 Bundesliga season finishes, meaning that he will not participate in the rest of Leipzig's Champions League campaign.

"We are very excited that Timo Werner has chosen to join Chelsea," director Marina Granovskaia told the club's official website.

"He is a player who was coveted all over Europe and it is no surprise, he has that rare mix of being young and exciting and yet established and proven. We can't wait to have Timo on board, but until then we wish him and RB Leipzig all the best for the rest of this season."

Werner, who is understood to have agreed a five-year contract at Stamford Bridge worth just over £170,000 per week, becomes Chelsea's second major signing ahead of next season after Hakim Ziyech.

Werner has scored 32 goals and created 13 more in just 43 appearances this season, including 26 goals and eight assists in 32 Bundesliga outings.