Chelsea have reached an agreement to sign Atletico Madrid striker Diego Costa.

The Premier League side have met the buy-out clause of the Spanish international, which is believed to be around £32 million.

He failed to impress during Spain's dismal World Cup campaign, although he did help Atletico to this year's Champions League final and victory in the the Spanish league title race.

Agreement reached with Atletico Madrid for the transfer of Diego Costa: http://t.co/y1QwupqQGC #CFC pic.twitter.com/xRG5TkwuoF

— Chelsea FC (@chelseafc) July 1, 2014