Football Focus: Chelsea to buy Atletico Madrid's Costa for 80m pounds?

Chelsea has reportedly agreed to acquire Atletico Madrid's Diego Costa for a transfer fee of 80million pounds.

The English Premier League club is prepared to meet Costa’s £32 million release clause and will offer the Spaniard a weekly wage of £185,000, that’s equal to the club’s highest earner, Eden Hazard.

According to Metro, Costa is likely join the team at Stamford Bridge on June 30.

Chelsea’s manager Jose Mourinho has made no secret of his desire to recruit a top-class forward for next season, and according to Spanish newspaper El Confidencial, Chelsea have struck an agreement for the Brazilian-born Costa.

Costa has scored 32 goals this season.

English Premier League club Manchester City and French champions Paris Saint Germain are reportedly facing substantial punishments for failing to comply with the Financial Fair Play (FFP) rules of the UEFA.

One of the central FFP rules state that clubs were forbidden from making losses of over 45 million euros during the 2011-12 and 2012-13 seasons, with certain exceptions, although both City and PSG both spent heavily on new players during that period.

According to Sport24, City faces a 'huge' penalty for breaching the regulations, which were introduced by the European soccer governing body to prevent clubs from spending beyond their means, while PSG will also be penalised by UEFA's Club Financial Control Body (CFCB).

However, reports claimed that City and PSG were more likely to be hit with a financial penalty, adding that 'fewer than 20 clubs' were at risk of sanctions, while City manager Manuel Pellegrini played down the threat of sanctions.