The 17 year-old's agent, Wagner Ribeiro, was in London this week for talks with Chelsea and Globoesporte says he informed Blues officials that the midfielder's buyout clause was less than £4 million.

Lulinha is contracted to Corinthians until 2009 and upon Ribeiro's return to Brazil they hope to open talks about a new deal for the youngster. Corinthians will offer Lulinha an improved deal to 2012 with an increase of his buyout clause.

If Lulinha is to join Chelsea he will have to wait until next summer as he doesn't turn 18 until April.