Independiente del Valle director Santiago Morales has announced Kendry Paez is joining Chelsea.
The 16 year-old attacker will move to Chelsea when he turns 18 in 2025.
Morales has revealed Paez is signing for Chelsea ahead of Manchester United.
Morales said: Today, I can say that Kendry Paez, in two years' time, will go to Chelsea.
We received offers from Borussia Dortmund and Manchester United, Chelsea were the team that showed the most interest."
Chelsea are coughing up 20m to land the Ecuadorian.