Rafael Leao of AC Milan and Arsen Zakharyan of Dynamo Moscow are expected to join Chelsea before Thursday, according to The Times.
After Paris Saint-Germain changed its mind about selling either Lionel Messi or Neymar, Chelsea decided to pursue the two stars.
Todd Boehly, the owner of Chelsea, reportedly welcomed the idea of acquiring Neymar from PSG, but was later informed the Brazilian was not up for sale.
As a result, the report says, Chelsea have turned their attentions to other targets, Leao and Russian Zakharyan.
Leao, a 23-year-old Portugal international, impressed in Italy last season and is believed to be keen on a move to the Premier League.
Russian star Zakharyan, meanwhile, scored seven goals and claimed eight assists last season, attracting interest from a number of clubs from across Europe.
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