Caballero is currently a free agent after being released by Manchester City but the shot-stopper appears to have found a new club in no time, and it is one of City’s biggest Premier League title rivals.
The 35-year-old, who was allowed to leave for free alongside Jesus Navas, Gael Clichy, Bacary Sagna, Pablo Zabaleta, Callum Bullock, Thomas O’Brien, Kane Plummer, is believed to have completed a medical and agreed personal terms.
No confirmation has come from the keeper or the Blues yet but reports are suggesting the deal will be wrapped up in the next couple of days in what will be the defending champions’ first signing of the summer.
Caballero is expected to play second fiddle to Belgium international Thibaut Courtois, who has been number one at Stamford Bridge for the past three campaigns.
Newcastle United and Boca Juniors were said to be interested Caballero, with both offering regular first team football, but the chance to stay at a title-chasing team in London proved to be the deciding factor.