The Blues are set to pay in the region of €15 million for the versatile left-sided player, who is expected to feature primarily as a full-back for the Blues but can also play in central defence or a notch up in midfield.
He is a player who Chelsea have reportedly been following for some time as an alternative to Riccardo Calafiori, who they followed but never bid for. Instead, the Italy international is heading to Arsenal.
Interestingly, Veiga is the player that Basel bought to replace Calafiori when they sold him to Bologna last summer for €4m.
They are strikingly similar players, but while the Euro 2024 star will cost Arsenal €50m, Chelsea have moved swiftly to cut out the middleman and secure Veiga for just €15m - still upwards of €10m more than Bologna spent on his predecessor.
So is this the bargain deal it seems? Certainly, Chelsea have got their valuation of players wildly wrong before, with Mykhailo Mudryk’s €70m move from Shakhtar Donetsk in January 2023 looking a particularly poor piece of business.
Chelsea are paying well over the odds for the 20-year-old Veiga. His Estimated Transfer Value (ETV) is just €1.9m, with his value having fallen steadily since he moved away from Sporting CP last summer.
Veiga’s peak valuation, which came after a loan stint with Augsburg in the Bundesliga, sits at just short of €10m.