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Chelsea yet to strike Hulk deal

ESPN understands Chelsea have yet to reach an agreement with Porto for the signing of striker Hulk.

• Hulk hints at Porto exit

Speculation has suggested Chelsea are on the brink of tying up the transfer of Hulk, whose contract commands a reported €100 million release clause.

It is claimed Porto could accept a fee nearer £38 million for the Brazilian, who this weekend hinted that he could be ready to leave Estadio do Dragao.

However, when asked about the reports, a source has told ESPN: "I wish that was true, but there is no deal with Chelsea."

It is also understood that Chelsea, who are said to be in the market for a forward following Didier Drogba's exit, deem Atletico Madrid forward Falcao out of their price range at present.

Atletico are seeking £45 million for the Colombia international, whose goals helped guide Atletico to Europa League glory this campaign.

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