Chelsea are ready to launch a £50 million bid for Atletico Madrid star Sergio Aguero. The Mail on Sunday says Chelsea also believe they have overtaken Inter Milan and former manager Jose Mourinho in the race to sign Atletico Madrid's Argentine star Aguero, one of the hottest properties in world football.

Aguero is the player to help provide the flair owner Roman Abramovich craves. The 20-year-old is almost certain to leave Atletico Madrid this summer and join the club's previous idol, Liverpool's Fernando Torres, in the Premier League.

Manchester City have also shown a keen interest in Aguero, but even the deep pockets of the club's Abu Dhabi owners will not persuade him to join a club who cannot provide him with Champions League football.

Chelsea, who had an offer for Aguero rejected last summer, are one of the few clubs who could afford anything close to the £50m fee specified in his contract's buy-out clause and securing his services would be a bold statement of intent for the new era, as well as one in the eye for Inter and Mourinho.

Jose Segui, who works for Aguero's representatives, IMG, said: "I cannot deny big European clubs want Aguero, but the decision is down to Atletico."