Real Madrid forward Robinho will reportedly soon complete his desired transfer to English club Chelsea.

Chelsea chief executive Peter Kenyon is holding negotiations with Madrid officials in the Spanish capital and is set to agree a fee of close to £40 million (US$58.8 million) for the Brazilian, sports daily Marca reported yesterday.

Chelsea, coached by Robinho's fellow Brazilian Luiz Felipe Scolari, is said to have offered Robinho a large increase on his current reported £2.1 million (US$3 million) annual salary.

Large sum

Robinho, who is under contract until 2010, recently pleaded with Madrid to let him move to Stamford Bridge before the close of the European transfer window on August 31.

The 24-year-old said his aim of becoming the best player in the world would not be fulfilled by staying at Madrid. President of the club Ramon Calderon said on the weekend that Robinho could terminate his contract and join Chelsea, but suggested he would have to pay a large sum to do so.

With the buyout clause in Robinho's contract set at £150 million (US$220.5 million), it appeared that the Spanish champions had shut the door on a possible move.

However, Madrid now appears to be seeking a replacement for the gifted player.

On Monday, Valencia rejected a £47 million (US$69 million) offer from the club for Spain striker David Villa, while Ajax striker Klaas-Jan Huntelaar is also a reported target.

Failed pursuit

Robinho joined Madrid from Brazilian team Santos three years ago, but media reports suggested he was annoyed by Madrid's refusal to allow him to play at the Olympic Games.

Madrid's plan to use him as a makeweight in its failed pursuit of Manchester United winger Cristiano Ronaldo also persuaded the forward that his future lay elsewhere.

Madrid coach Bernd Schuster left Robinho on the bench for Sunday's Spanish Supercup second leg against Valencia. Madrid won 4-2 to lift the trophy.