Alex tipped for Chelsea
PSV's Brazilian defender Alex could move to Chelsea after the Premiership club agree to loan young defender Slobodan Rajkovic the other way.
Serbia Under-21 international Rajkovic, only 18, has spent the last two seasons on loan at OFK Belgrade, from whom Chelsea bought the player for £3.8million in 2005.
The 6'5" centre back is expected to figure in Chelsea's first-team in a few seasons and will play at PSV for a season, according to the Eindhoven side.
"Of course I am glad to be able to play for a club like PSV, PSV is a big club," Rajkovic told PSV TV.
"I know almost all of the players of PSV, but I will specifically look at the players in whose position I can play."
Alex, 25, has been at the Dutch champions for the last three seasons in a loan deal arranged to improve his chances of receiving a UK work permit, which would initially have been denied to him on his transfer from Santos.
The Brazil international has repeatedly declared that he is set to receive clearance from the home office to play in England and has been credited with a large role in three consecutive Eredivisie title wins.
Chelsea suffered defensive problems last season when, following the sales of William Gallas and Robert Huth to Arsenal and Middlesbrough respectively, injuries to John Terry and Ricardo Carvalho saw Michael Essien, Paulo Ferreira and - at one point - striker Didier Drogba playing at centre half.
Khalid Bouhlarouz will not play for Chelsea again after a miserable season that has seen Jose Mourinho declare that he is on his way out.