UPDATE: Chelsea have confirmed that they have reached a deal with Paris Saint-Germain to let Brazilian defender/midfielder David Luiz join the Ligue Un club. The deal is pending Luiz agreeing personal terms with PSG and passing a medical.

A statement on the Chelsea club website revealed:

“Chelsea Football Club and Paris Saint-Germain have agreed terms for the transfer of David Luiz to the French club. The move is now subject to David Luiz agreeing personal terms with PSG and passing a medical examination.”

The £50million transfer fee would be a world-record fee for a defender. The two clubs have been in talks for some time and the deal should be made official before the start of the World Cup.

Luiz was signed to Chelsea from Benfica in January 2011 for £23.5 million and helped the Blues win a Champions League title as well as a Europa League title but the Brazilian struggled at center-half and defensive midfield last season. Luiz was being looked at by Barcelona and Bayern Munich and is a large asset for Chelsea who are trying to follow UEFA’s financial fair play regulations by selling some players to free up salary space for new players.

Selling Luiz would allow Chelsea to pursue Diego Costa, the forward from Atletico Madrid whose buyout would cost the Blues £31.8 million. Manager José Mourinho has been looking for some more offensive playmakers including Mario Mandzukic from Bayern and also looking to replace veteran Ashley Cole who has been released by Chelsea.

PSG is willing to pay Chelsea’s asking price. Not wanting to lose out to Barcelona or Bayern, the French team is willing to do what it takes to secure the signing of the Brazilian. Luiz may even possibly undergo his physical for PSG while practicing in Brazil with his national team while preparing for the World Cup. Although they have shown serious interest in Luiz, they have also made their interest in Luiz’s teammate Eden Hazard very obvious. Chelsea turned down their offer for Hazard, wanting to keep him in London.

Luiz joined Chelsea in 2011 and signed a five-and-a-half-year contract. He made his first start for the Blues against Fulham at Craven Cottage where he won the Barclays Man of the Match for his performance. His first goal was at Stamford Bridge where he helped Chelsea win 2-1 against Manchester United. Although he missed the first three games of the 2011-2012 season due to a knee injury, he scored in his first game back against Bayern 04 Leverkusen. He’s had a total of six goals and 81 appearances with Chelsea.