(adds new sixth para)
LONDON, Feb 29 - Chelsea are close to striking a
deal which will effectively lead to Dutch side PSV Eindhoven
acting as their nursery club, according to British newspaper
reports on Sunday.
As part of the proposed agreement between the two clubs,
Chelsea are helping to finance a big-money move by Santos
defender Alex to PSV, said the reports.
"Nothing's been properly finalised just yet but there are
clear advantages for everyone concerned," PSV chairman Harry van
Raaij was quoted as saying in the News of the World.
"It is true Chelsea are behind this signing of Alex for PSV.
Everyone's hopeful we can continue to work together for the good
of both clubs."
Brazilian Alex, 21, will spend a maximum of two years with
PSV before joining Chelsea, said the newspaper reports.
The proposed link up between Chelsea and PSV would resemble
the co-operation deal Manchester United signed with Belgian club
Antwerp in 1998.
Chelsea won 1-0 at Manchester City on Saturday to climb up
to second in the premier league table, nine points behind
leaders Arsenal.