According to the Daily Mail, his £40m switch will be finalised after he takes a medical on Friday.
Matic rejoined Chelsea from Benfica in the winter transfer window of 2014 after his first spell at the club had ended in a whimper.
The 22-year-old Frenchman recently posted a photo of himself standing near a jet plane, and captioned it, "Let's Go".
Tactically speaking, the failure to get Bakayoko would also be crushing.
Chalobah made 15 appearances for Chelsea last season, a campaign in which they lifted the Premier League trophy.
Tiemoue Bakayoko has travelled to England with Chelsea hot favourites to sign him - but could there be a twist in the transfer story?
Hell, it's a considerable downgrade from the Serb's 2015/16 season, too, when the Londoners finished in 10th place.
And to spook Chelsea fans even more, the midfielder followed that up with a second message with emojis using United's white and red colours. Now, Bakayoko is over the line and if they can land a striker, Chelsea's summer will be set with only replacements needed for departures. For a big man the Belgian is surprisingly fleet of foot and he is quick, with powerful acceleration, as well as being strong in the air, good at holding the ball up, possessing excellent movement and awareness and being a clinical finisher.
Chelsea are expected to fly out on Tuesday, July 18, with the first game in Beijing, against Arsenal, scheduled for the 22nd.
Isn't Tiemoue Bakayoko signing for Chelsea...? What does it say about the Blues' allure? Under Abramovich though, triumph eventually smothers adversity and no doubt it will again this time around.
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