Benfica have announced the sale of Enzo Fernandez to Chelsea.
At one point, it looked as though Chelsea would fail to get the deal for the 22-year-old World Cup winner over the line - but both parties finally made a breakthrough just minutes before the 11pm deadline, says the Daily Mail.
Fernandez moves to Chelsea for a British record 120m and will sign an eight-and-a-half year deal through to June 2031.
Benfica confirmed the move in a statement in the early hours of Wednesday morning after the clubs completed the necessary paperwork prior to the deadline. The Portuguese club also removed Fernandez from their list of players on the club website.
Chelsea director Behdad Eghbali was the key driver of the deal. Chelsea wanted to pay in six instalments, including one larger up-front payment.
Benfica, however, originally wanted Chelsea to pay Fernandez's 105m release clause in one go. Talks on Tuesday were primarily aimed at negotiating that obstacle, with Chelsea offering to reduce the number of instalments.
It is believed Benfica were willing to accept a payment structure of three instalments over two years and eventually a middle ground was reached
