English Premier League club Chelsea has reportedly been beaten in the race to sign Chilean striker Eduardo Vargas by Italian club Napoli. The Naples-based outfit has successfully secured the player's signature and will look to field the player in January, when the transfer window opens.

Vargas, 22, is one of the most highly-rated players in South America and was a long-term target of the English club. He currently plays for Universidad de Chile, in his hometown.

According to Carlos Heller, a majority shareholder in Universidad de Chile, Vargas and the club have successfully concluded a deal, late on Saturday night. It is believed that Napoli paid a sum of around £11.5 million for the services of a player who, ironically, might now turn against Chelsea, when the two clubs face-off in a UEFA Champions League Round of 16 match.

Incidentally, apart from Chelsea, Italian giants Inter Milan had also shown interest in the player, according to an Insidefutbol.com report.

Eduardo Jesus Vargas Rojas has made 74 appearances for Universidad de Chile and scored 31 times.