Robinho, right, looks set to swap the white of Madrid for the blue of Chelsea [AFP]

Spanish sports daily Marca has reported that Chelsea chief executive Peter Kenyon is holding negotiations with Madrid officials in the Spanish capital and is set to agree a fee of close to $58.8 million for the Brazilian.

Chelsea, coached by Robinho's fellow Brazilian Luiz Felipe Scolari, is said to have offered Robinho a large increase on his current reported $3 million annual salary.

Robinho, who is under contract until 2010, recently pleaded with Madrid to let him move to Stamford Bridge before the close of the European transfer window on August 31.

The 24-year-old said his aim of becoming the best player in the world would not be fulfilled by staying at Madrid.

Madrid president Ramon Calderon said at the weekend that Robinho could terminate his contract and join Chelsea, but suggested he would have to pay a large sum to do so.

With the buyout clause in Robinho's contract set at $220.5 million, it appeared that the Spanish champions had shut the door on a possible move.

Replacements targeted

However, Madrid now appears to be seeking a replacement for the gifted player.

On Monday, Valencia rejected a $69 million offer from the club for Spain striker David Villa, while Ajax striker Klaas-Jan Huntelaar is also a reported target.

Robinho joined Madrid from Brazilian team Santos three years ago, but media reports suggested he was annoyed by Madrid's refusal to allow him to play at the Olympic Games.

Madrid's plan to use him as a makeweight in its failed pursuit of Manchester United winger Cristiano Ronaldo also persuaded the forward that his future lay elsewhere.

Madrid coach Bernd Schuster left Robinho on the bench for Sunday's Spanish Supercup second leg against Valencia.

Madrid won 4-2 to lift the trophy.

Fans at Santiago Bernabeu Stadium displayed banners criticizing Robinho, while his name was jeered when it was read over the loudspeaker system before the game.

Chelsea, which lost the Champions League final to Manchester United on penalties and finished runner-up in the Premier League, has already strengthened its squad for the new season with the signings of FC Porto fullback Jose Bosingwa and FC Barcelona midfielder Deco.

Scolari's club, which has won its opening two Premier League games, has just offloaded Ukraine striker Andriy Shevchenko to his former club AC Milan.

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