Chelsea have been dealt a transfer blow after it was revealed that Pedro Lima would be signing for Wolverhampton Wanderers.
Throughout June, it has been heavily reported that the Sport Recife teenager was on the brink of signing for one of BlueCo's two clubs.
However, regardless of whether the 17-year-old made the switch to either Strasbourg or Chelsea, the intention was for the right-back to eventually become a first-team player at Stamford Bridge.
The indication was that an announcement was imminent, with Todd Boehly and Clearlake Capital prepared to pay the asking price for the prospect.
Instead, Sport Recife have announced that Wolves have agreed terms to sign Lima once he turns 18 years of age in July.
What did Sport Recife say in official statement?
Late Monday afternoon in England, the Serie B outfit took to social media to acknowledge a deal was in place with the Premier League side.
It read: "Sport Club do Recife announces that it has signed a binding agreement to transfer the economic and federative rights of athlete Pedro Lima to Wolverhampton Wanderers, from England.
"The agreement is subject to customary conditions, including the athlete's approval of medical examinations conducted by the English club.
"President Yuri Romao and the football management committee will detail the operation in a statement when all acts related to the business have been completed."
Although Lima is yet to play in the Brazilian top flight, he has accumulated 26 appearances in all competitions, recently completing the 90 minutes in a Copa do Brasil fixture against Serie A side Atletico Mineiro which Sport Recife won by a 1-0 scoreline.
Cunha advises Lima to join Wolves
Wolves forward Matheus Cunha recently revealed he wished Lima was making the switch to Molineux rather than Chelsea when negotiations appeared to be wrapped up.
Cunha is aware of Lima's talent with the pair having been born 20 minutes away from each other in Brazil, and the attacker has seemingly played a helping hand in the transfer.
Speaking on Instagram, Cunha said: "Born in the same city, and now a teammate! I hope I can help you with your adaptation and see you delighting our fans! Welcome."
An agreement is in place for Wolves to spend £8.45m on Lima on July 1, with the expectation he will immediately come into contention for a first-team role. body check tags ::
