Liverpool have confirmed a £60m deal for Jeremy Jacquet, with the Rennes centre-back to join in the summer.
The 20-year-old completed his medical with the champions on Deadline Day and will move to Anfield on July 1.
Liverpool have agreed to pay a fixed fee of £55m plus a potential £5m in performance-related add-ons.
Chelsea offered exactly the same deal as Liverpool but over the past 48 hours, when it became apparent that Mamadou Sarr would be returning to Stamford Bridge and Josh Acheampong was staying, the player changed his mind and decided to move to Anfield.
It is believed he is likely to play more regularly there in the long term as Chelsea's squad is overloaded with young centre-backs.
Meanwhile, Liverpool are not as blessed with options at centre-back. Virgil van Dijk and Ibrahima Konate are currently their only fit senior players in that position, with Joe Gomez and Giovanni Leoni injured.
Konate's contract expires at the end of the season and he could leave for free in the summer. Jacquet is being signed after Liverpool's Deadline Day move for Marc Guehi from Crystal Palace last summer collapsed at the last minute.
Man City signed Guehi from Palace for £20m in this transfer window, six months before his contract expired. Liverpool were keen on him in the summer on a free transfer, but not at the price City paid in January.
French football expert Julien Laurens:
"He's the real deal. I know he's only 20, he hasn't played for France and he hasn't played in the Champions League or Europa League.
"He has a long way to go but he's been impressive last season, after they [Rennes] called him back from his loan in the second division, and this season, with Habib Beye.
"You can't get it wrong. He is going to be amazing.
"He reminds me of when William Saliba burst onto the scene in France with Saint-Etienne, or Wesley Fofana.
"It's about how much you value that potential and talent. You would pay a lot of money for someone who hasn't really proved much. It's a lot of money for such a young player."
European football expert Kevin Hatchard on Your Site News discussing Jeremy Jacquet:
"He's been seen as a rising star for quite some time. He's been a captain at numerous youth groups for France and seen as somebody who has all of the building blocks you need to be a modern centre-back.
"He's good on the ball, good passing range, athletic, great in the air - but he doesn't have a long record of top-level football.
"He had a loan at Cleremont that went well. He's been playing for Rennes this season, but it shows you just how much they rate him that they really didn't want to let him go in this window.
"His coach Habib Beye said 'if we let him go this season, we'll have to downgrade our goals for the season'."
Your Site' Paul Merson:
"I found it extraordinary that [Jacquet] is coming in the summer. They need a centre-half now to get top four or top five.
"It surprises me. It's a good signing - as a Chelsea fan I'm shocked he hasn't come to Chelsea, but I'm glad Acheampong is now staying.
"I'm majorly shocked. I don't know why, for the life of me, he's staying in France until the start of next season. With that kind of money, you want him now!"
