Chelsea have agreed on a fee worth €82.5m with Leicester for the signature of the 21-year-old French defender.
With an agreement in place between the two clubs following weeks of negotiations and three failed bids, the defender is expected to complete the formalities of the transfer in the coming days.
The eventual deal is expected to breach the world record €87m fee for a defender Manchester United paid for Harry Maguire to Leicester in 2019.
And according to French sports daily L’Equipe, Saint-Etienne are set to get a massive financial boost from Fofana’s move as well.
The French club sold the defender to Leicester in 2020 for a big fee but also included a sell-on clause.
Saint-Etienne would be due 20 per cent of the profit Leicester are set to make from his sale.
It has been claimed that the final amount the French club are likely to receive could touch the €10m mark.
That would be a major source of funds for Saint-Etienne who are, like most clubs in France, still dealing with the financial ramifications of the pandemic.
