Chelsea break bank to sign Hasselbaink

Chelsea are to sign Dutch international striker Jimmy Floyd Hasselbaink says Spanish daily 'AS' in a new British record transfer.

The top scorer for Atletico Madrid in their relegation season is waiting for Atletico to agree to the £17 million move and hopes to sign for Chelsea by the weekend. The previous record transfer for a British club was the £15 million paid out by Newcastle to Blackburn in 1996 to sign Alan Shearer.

Atletico's top stars are all for sale after a year of financial crisis for the club culminated in the relegation for the Spanish first division three weeks ago.

Chelsea have the worst shot rate in the Premiership - below the three relegated clubs - and need goals if they are to mount any sort of league challenge next season. Hasselbaink will join Chelsea on a four year contract and spent two seasons with Leeds United where he finished top scorer in their 1998-999 season. He was discovered in Portuguese football by former Leeds manager George Graham and was a top star at the club until an angry falling out over his transfer to Spain last summer. He is set to play in Euro 2000 for the Dutch national team next month.

The move by Chelsea further heightens speculation surrounding their previous record signing Chris Sutton. The club bought Sutton for £10 million last season but he has scored only three goals. Leicester City are interested in signing Sutton but Chelsea will not be able to sell the player for more than £4 million.