Brazil teenage sensation Lulinha is ready to resist interest from Chelsea and sign a new contract with Corinthians.

The attacking midfielder is a target for Chelsea and revealed: "My agent Wagner Ribeiro says the new contract with Corinthians is agreed and just needs my signature.

"I know Chelsea are following me, but there's been no concrete offer. I'm happy at Corinthians because it feels like home."

Lulinha's new deal will tie him to Corinthians until 2012 and see his buyout clause jump from £1.5 million to £20 million.