Postpublished at 10:45 BST
While we wait to be interrupted by another done deal, let's round up some of the other transfer news and rumours doing the rounds today...
Summary
Chelsea sign Spanish left-back Pep Chavarria from Rayo Vallecano on a five-year contract
The 28-year-old is Chelsea's 11th signing of the summer
Crystal Palace re-sign Evann Guessand from Aston Villa on season-long loan with option to buy
Ivory Coast forward Guessand scored two goals in 14 games for Palace last season
Gossip: Chelsea and Manchester United offered the chance to sign Myles Lewis-Skelly
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Postpublished at 10:45 BST
So why aren't Palace spending any money?published at 10:40 BST
Squad-cost ratio (SCR) regulations have been implemented for the 2026-27 season, replacing previous profit and sustainability rules.
Uefa has a 70% SCR cap for European competitions, so Premier League clubs who qualified for Europe - like Crystal Palace - fall in line with this limit.
Squad costs are related only to on-pitch spending on a club's senior men's first team, including wages and agent fees.
SCR is a season-specific spending cap tied directly to a club's football-related revenue. It limits on-pitch spending to a percentage of club revenue operates strictly on a single-season basis, meaning the consequences of overspending or a bad financial cycle affect only that specific campaign.
But as they are under these strict rules for 2026-27, Palace are having to watch their pennies.
Palace continue bargain shoppingpublished at 10:33 BST
Evann Guessand is Crystal Palace's fourth signing of the summer - and they are yet to spend a penny on a permanent deal.
As well as Guessand on loan, Palace have signed defenders Oscar Mingueza and Takehiro Tomiyasu on free transfers - plus a swap deal to bring in winger Dwight McNeil, with Brennan Johnson heading the other way to Everton.
The Eagles are in the Europa League this season following their Conference League win last season and with that comes financial obligations.
Palace have to comply with Uefa's squad cost ratio (SCR) when trying to bring in new players during this transfer window.
The SCR obligations are stricter than those of the Premier League and Palace have to deal with the rules put in place by Uefa which caps spending on wages, transfers and agent fees at 70% of club revenue.
'It's only the beginning' - Guessandpublished at 10:27 BST
On his return to Selhurst Park, Evann Guessand said: “I'm so happy to be here.
"I already have good memories here – but I think it's only the beginning. I hope many more are coming."
Crystal Palace chairman Steve Parish said: “We’re thrilled to have the opportunity to welcome Evann back to Crystal Palace, after he gave us all a glimpse of his undoubted talent last season.
“We believe he can help us to deliver similar success this year, as we look forward to another exciting season for the club.”
Image source, Getty ImagesA second loan for Guessandpublished at 10:21 BST
Ivory Coast international Evann Guessand, 25, spent the second half of last season at Selhurst Park and was part of the side that won the Conference League in May.
He only joined Villa in August last year but endured an underwhelming start to the season after his £26m transfer, scoring two goals in 21 appearances in all competitions.
After moving to Palace for the first time in January, Guessand scored his first Premier League goal in a 1-0 win over Wolves and he came on as a sub in the Conference League final win over Rayo Vallecano.
Palace did not take up an option to sign Guessand - who played twice for Ivory Coast at the 2026 World Cup - as part of his previous deal, but have now brought him back on another loan.
Image source, Getty ImagesGuessand returns to Palacepublished at 10:16 BST
BreakingEvann Guessand has returned to Crystal Palace.
The forward arrives in South London on a season-long loan from Aston Villa, with an option to buy.
Postpublished at 10:15 BST
Huzzah, we have another transfer to share with you. And I'm still only on my first cup of tea of the day.
And no, this one is not for Chelsea...
Get Involved - 'Chelsea needed a leftback'published at 10:13 BST
Click 'Get Involved' at the top of this page to have your say
I get the jokes and the banter but this signing was needed. They needed a leftback. Hato is a makeshift LB. From a United fan.
Grant, Northern Ireland
Chavarria caught Alonso's eye v Realpublished at 10:10 BST
Elizabeth Conway
BBC Sport Spanish football reporterAt Vallecas, Pep Chavarria developed into a dependable top-flight full-back, combining defensive aggression with the physicality required to succeed in the role.
He made 125 appearances for Rayo and became a regular presence on the left side of defence.
Joining Rayo also gave him the chance to play in front of world-class managers such as Xabi Alonso, who he faced last season when Alonso was in charge of Real Madrid.
In the goalless draw with Real Madrid at Vallecas in November, Chavarria produced an excellent defensive performance - showing the aggression and discipline required to deal with elite attacking players.
His performance left an impression on Alonso and Chavarria became a key target for the Spanish coach after he was appointed Chelsea manager.
He also started for Rayo in last season's Conference League final, where they suffered a 1-0 defeat by Crystal Palace.
Image source, Getty Images'The best club in London' - Chavarriapublished at 10:04 BST
Speaking about his ambitions at Chelsea, Chavarria said: "Always, Chelsea need to win all trophies. It's the best club in London, we need to work hard and I think with these players, it is possible."
On moving away from Spain for the first time in his life, he added: "I played in Spain all my life, and for me the Premier League is the best league in the world right now.
"A lot of quality, intensity and I think that is the best league for me."
Image source, Getty ImagesA difficult deal to concludepublished at 09:59 BST
Nizaar Kinsella
BBC Sport Chelsea reporterGetting the deal over the line has not been easy for Chelsea, who were initially told by Rayo Vallecano that they would not sell Chavarria unless his release clause, now worth £42.4m, was met.
Talks were described as "complicated" by multiple BBC Sport sources after Rayo made it clear they wanted the release clause paid in full.
They believed the price was justified, with sources at the club arguing that Chavarria's underlying statistics show he plays at a similar level to Cucurella.
He scored once last season and made three assists in all competitions, creating 27 chances from open play in La Liga.
Furthermore, Chavarria had four years remaining on his contract and Rayo's successful player-trading model has left the club in a strong financial position, allowing them to resist offers in a similar way to Spain's traditional big three of Real Madrid, Barcelona and Atletico Madrid.
That profitability also means Rayo would be liable for a 25% tax charge on any additional profit generated from a sale, reducing the net value of any fee received.
Image source, Getty ImagesGet Involvedpublished at 09:53 BST
Click 'Get Involved' at the top of this page to have your say
In London, you’re only ever 20 metres away from a Chelsea squad member.
Garfield, Newcastle upon Tyne
Chelsea's August schedulepublished at 09:50 BST
It’s another signing through the door for the Blues, and their new left‑back could feature for the first time in a friendly against Real Sociedad on Saturday.
He could make his Premier League debut at Fulham, his competitive home debut against Luton in the Carabao Cup, and finish the month with a clash against Brighton at Stamford Bridge.
Chelsea's August fixtures:
- 15 August, Real Sociedad (14:00 BST)
- 24 August, Fulham (20:00 BST)
- 27 August, Luton Town (19:30 BST)
- 30 August, Brighton & Hove Albion (14:00 BST)
Image source, Getty ImagesGet Involved - 'Another 50/50 season'published at 09:44 BST
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As a Chelsea supporter, I'm pleased with the direction the team seems to be going in, and understand why we are getting in the old pros. It really is another 50/50 season where we could fight relegation or be top three. Far removed from the Roman days!
Shane, London
Chelsea's transfer business so farpublished at 09:42 BST
Chelsea have had an incredibly busy window under new boss Xabi Alonso.
At the start of August, 36-year-old Jordon Henderson joined the Blues on a two-year contract.
In July, Chelsea agreed a club-record £117m deal to sign England midfielder Morgan Rogers from Aston Villa, 35-year-old England striker Danny Welbeck joined in a reported £5m move from Brighton, with Strasbourg midfielder Valentin Barco arriving the following day.
Defender Maxence Lacroix joined for £52m from Crystal Palace, 21-year-old right-back Marco Palestra moved from Atalanta for £42m and right winger Geovany Quenda signed for £40m from Sporting.
The other new additions are 23-year-old striker Emmanuel Emegha from Strasbourg, left-back Denner, 18, from Corinthians and 17-year-old striker Dastan Satpaev from Kairat Almaty.
Image source, Getty Images'One of the best days of my life' - Chavarriapublished at 09:36 BST
After signing a five-year deal with the Blues, Chavarria told club media: "I’m so excited to get started.
"This is a dream for me as Chelsea are one of the biggest clubs in the world. This is one of the best days of my life," added the 28-year-old.
"It is a big opportunity but I am prepared and will work hard to help the team achieve success.
"There are a lot of people who have helped me get to this moment and I have to thank my family. They have always supported me and today is only possible because of them."
Image source, Getty ImagesGet Involved - 'How do Chelsea keep buying players?'published at 09:32 BST
Click 'Get Involved' at the top of this page to have your say
As soon as you saw "DONE DEAL KLAXON", you just knew it was Chelsea... That can't just have been me, right?
Phil, Littlehampton
Can someone please explain to me what Chelsea's strategy is? I'm completely baffled.
Michael, Horwich
How do Chelsea keep buying players and what do they do with them all?
Jeff, Leeds
Chavarria unveiled at Cobhampublished at 09:26 BST
Image source, Getty ImagesThe Blues have paid a £16.3m fee for Chavarria, plus £1.7m in add-ons.
He's their 11th incoming of the summer.
Chelsea sign Chavarriapublished at 09:17 BST
BreakingChelsea have signed Spanish left-back Pep Chavarria.
The 28-year-old joins from Rayo Vallecano on a contract which runs until 2031.
Image source, Getty ImagesPostpublished at 09:14 BST
Woof, that didn't take long.
Fourteen minutes into today's transfer live and we've already got our first DONE DEAL KLAXON.
Hold tight for the big reveal.
