The Telegraph says Chelsea are expected to clinch a British-record £40 million transfer deal to sign Agüero at a meeting scheduled with his agents next Monday.
The 21-year-old Atlético Madrid striker is close to agreeing terms with Chelsea who had inquired about his availability during the summer.
At that time Agüero had demanded a salary of more than £6 million-a-year which would have made him Chelsea's highest paid player – which the club balked at – but it is hoped he will now compromise on his wages.
Chelsea will meet his agent Bruno Satin, who is head of the football division of IMG, one of the world's biggest sports agencies, on Monday to hopefully agree a deal after Atlético finally sanctioned Agüero's sale earlier this week.
The Spanish club are still hoping to receive more than £50 million for Agüero but, it's understood, are now more willing to compromise on the transfer fee if a deal can be done.