Chelsea hours away from signing Barcelona and Arsenal target as spending spree continues - Reports

If reports are to be believed, Chelsea are inches away from poaching Barcelona and Arsenal target Gabriel Moscardo. The Brazillian midfielder has been making strides in South America with Corinthians and could now find himself on a plane to London.

The 17-year-old prodigy predominantly specializes in the defensive midfield department, instantly making him a hot property in the current market. Despite his age, Moscardo has already established himself as a regular at Corinthians, clocking in 415 minutes in the ongoing Brazilian Serie A season.

Appreciated by Barcelona's new sporting director Deco, the midfield wunderkind has been on the radar of the Blaugrana for some time now. With the departure of club veteran Sergio Busquets earlier this summer, Barcelona have been looking for a replacement.

While new signings Oriol Romeu and Ilkay Gundogan have had a decent start to life in Catalonia, the Spanish giants are yet to sign a long-term replacement for Busquets. From the looks of it, it won't be Gabriel Moscardo who will replace the Spaniard, with Chelsea all set to acquire the 17-year-old's signature.

According to the Daily Express, the Blues are hours away from securing a deal for the youngster. Chelsea's interest in Moscardo arose towards the end of the summer transfer window, with owner Todd Boehly even submitting a bid, as per Fabrizio Romano.

Chelsea's London rivals Arsenal also had an interest in the signing of Moscardo, as per Brazilian outlet Lance. A few people with links to the English club had reportedly contacted officials from Corinthians in regard to the said player, but no concrete deal could materialize.

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Chelsea spent more on their cheapest signing than Barcelona spent all summer

Blues co-owners Todd Boehly oversaw a busy transfer window, spending €464m in signings as per Transfermarkt. While their acquisition of Moises Caicedo for a British-record fee (£115 million) made all the headlines, Chelsea also splashed the cash on the recruitment of Christopher Nkunku and Romeo Lavia, among others.

Aside from the free signing of Diego Moreira, the Blues' cheapest transfer procurement came in the form of 18-year-old Angelo, for whom they paid a fee of €15 million.

Barcelona, on the other hand, wrapped up their transfer window, having spent a meager €3.4 million on Oriol Romeu. The Blaugrana did not have to fork out a single penny for the rest of their signings, securing Ilkay Gundogan and Inigo Martinez on free transfers.

Their deadline-day signings, Joao Felix and Joao Cancelo, were also completed without a fee, with both of these being loan deals.