NEWS NEWS BLOG SPORT brings you the latest transfer news from Stamford Bridge.
Chelsea have completed their first bit of business of the January transfer window, loaning young defender Wallace to Brazilian club Gremio until June 2017.
The 21-year-old has previously been loaned out to Serie A team Carpri but the deal has been cut short to allow the move back to his homeland.
Wallace joined The Blues in January 2013 from Fluminense but is yet to make a first-team appearance for the club.
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| Chelsea have reportedly entered the £120m race for Gareth Bale |
Chelsea are planning an audacious raid on London rivals Arsenal for Alex Oxlade-Chamberlain, should Eden Hazard leave the club in the summer.
Hazard has reportedly told close friends he will leave Stamford Bridge amid interest from Real Madrid, Paris Saint-Germain and Bayern Munich.
And The Sun claim Oxlade-Chamberlain could be brought in to fill the breach, suggesting the club had been keeping tabs on the 22-year-old since Jose Mourinho's tenure.
The Blues have entered the race to sign Real Madrid star Gareth Bale, according to The Sun.
The Wales international has been tipped to leave The Bernabeu over the summer after The Telegraph reported he was 'distraught' following the sacking of Rafa Bentitez.
Manchester United are also understood to be suitors and a bid of £120million has been bounded about - a fee that Roman Abramovich could match.
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