Chelsea is set to complete their second blockbuster deal in a matter of days, following the revelation that the club has agreed a £38 million fee with Porto for Hulk, according to the Guardian.

While personal terms have yet to be formally agreed, with the forward currently away with the Brazilian national side, they are not expected to pose any real problem. Negotiations over a fee for Hulk had been going on for several weeks, with the Guardian reporting that Porto was long holding out for £48 million but eventually agreed to lower their demands.

On the back of the £32 million deal for Eden Hazard revealed earlier this week it represents a stunning outlay by Roman Abramovich.

And Chelsea's spending is not expected to end there, although it now appears unlikely that the club will continue their interest in Lucas Moura.

It had been claimed recently by Sao Paulo that the Blues had tabled a massive offer for the Brazilian wide man. But with Chelsea now having Juan Mata, Hazard and Hulk in place to form a trio off of a main striker, it is hard to see the value in spending big on Lucas.

Indeed TalkSport now reports that Inter have tabled a £19 million offer for the 19-year-old and appear favorites for his signature.

Chelsea's long-held interest in left-back Alvaro Pereira may also be on the wane. Ashley Cole proved he is still among the best left-backs in the world in the closing months of the season and Ryan Bertrand suggested he has the ability to be an able deputy with an admirable performance in the Champions League final.

But the Porto player's agent said he would welcome a rekindling of the Blues' interest.

Chelsea are the European champions, Flavio Perchmen said, according to Tribal Football. They are a great club for any player, not just Alvaro Pereira. They are a top 10 club in Europe.

If there is a good offer, we will study it. We want the best solution for his career. We are open to offers, but it has to be from a club of the same level of Poro or better.

We will see what happens. What he wants is to play.

Chelsea has also been linked of late with another left-back in Blackburn's Martin Olsson. Having suffered relegation last season, the Swedish international is widely expected to earn a move to stay in the Premier League next term.

And Olsson has said that he welcomes his name being mentioned in connection with the Champions League winners.

I know there has been a lot of interest and I have heard about Chelsea, he said, according to the Daily Mail. It proves that I have done well this season.

Despite the club's phenomenal success at the end of the season, not everyone has been swept up in the euphoria.

I don't like people talking to me about the Champions League, said striker Romelu Lukaku. It wasn't me, but my team that won.

The 19-year-old Belgian started just one Premier League game last season and did not appear at all in the Champions League following his £20 million move from Anderlecht last summer. And Lukaku has admitted that he is desperate for more first-team action.

Chelsea really wanted me last summer and paid a lot for me but after a while I thought, are you just throwing money around? he admitted.

During the conversation with the manager I will see whether he's serious about me or not. If not, I will go away on loan. I have to play.