Goal reported on Tuesday that a move was in the pipeline and it was completed formally on Thursday as part of the deal that saw Thibaut Courtois move in the opposite direction, hours before the transfer deadline in England.
The Toffees may have taken a while to get going in the transfer window, but have now added three signings after securing Joao Virginia, Lucas Digne and Richarlison.
So without further ado, you now have the keys to your Premier League club's transfer war-chest and we're asking readers to share their plans in the comment section below.
The French midfielder only joined Chelsea last summer in a £40m deal from Monaco.
Subject to the completion of the deal Mateo Kovacic will join the Blues on a season-long loan.
According to Sky in Italy, Bakayoko could join the Serie A outfit as the Blues are dealing with a packed midfield consisting of N'Golo Kante, Jorginho, Cesc Fabregas, Ross Barkley, Ruben Loftus-Cheek and Danny Drinkwater.
Chelsea travel to Huddersfield for their first game of the season on Saturday.
Everton are reportedly keen on Chelsea's Tiemoue Bakayoko.
The presence of Danny Drinkwater on the bench instead suggested that Sarri is likely to use the Englishman more than he would make use of Bakayoko in the coming season.
Courtois has been trying to force his way out of Stamford Bridge this summer after refusing to sign a new contract and Chelsea have made a decision to cash-in rather than risk losing him for nothing next summer.
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