Chelsea have agreed to a record-breaking transfer fee for Morgan Rogers that exceeds the £107m paid for Enzo Fernandez three years ago.
The fee surpasses the previous club record and signals a major shift in the squad under incoming head coach Xabi Alonso.
Former Chelsea player Joe Cole believes Fernandez is likely to depart following Rogers' arrival, citing the need to balance the club's finances.
Cole expects Rogers to operate from the left flank and noted his strong relationship with Cole Palmer as a factor in the move's appeal.
Fernandez has been linked with a move away from Stamford Bridge in recent months, with Real Madrid reportedly among the clubs monitoring his situation.
Alan Shearer pointed to Elliot Anderson's £116m move from Nottingham Forest to Manchester City earlier this summer as a benchmark that inflated Rogers' valuation.
Shearer praised Rogers as a brilliant talent but stressed that Chelsea still require a dedicated centre-forward to complete their rebuild.
Arsenal have shifted focus to RB Leipzig attacker Yan Diomande after missing out on Rogers.
The 19-year-old Ivory Coast international impressed during his debut Bundesliga campaign and is regarded as one of Europe's top young forwards.
Leipzig are holding firm on a £102m valuation for the teenager as interest from Premier League clubs intensifies.
