A statement on the Chelsea website read:
Chelsea Football Club can confirm an agreement has been reached with Atletico Madrid for the transfer of Diego Costa, with Chelsea meeting the buy-out clause for the Spanish international.
A statement on the Atletico website added:
“Diego Costa communicated to us at the end of last season his wish to be transferred to Chelsea FC and today the two entities have reached an agreement for the transfer of his rights, by which the London club is obligated to pay the buy-out clause in the contract between player and club.
“We wish the player much luck in this new step in his professional career.”
Costa was brilliant for Atletico last season as his 35 goals helped the Madrid side win the Spanish league title and reach the Champions League final.
Last season Chelsea struggled to score goals consistently and Blues boss Jose Mourinho was not happy with his striking options of Fernando Torres, Demba Ba and Samuel Eto’o.
Costa is a proven, world class striker who is well suited to the Premier League. In addition to Costa Chelsea have also signed Barcelona midfielder Cesc Fabregas while e goalkeeper Thibaut Courtois appears set to finally play for the club after three seasons on loan at Atletico.
The additions of Costa, Fabregas and Courtois has to make Chelsea title favorites for next season in England.