Yossi Benayoun has agreed a four-year contract with Chelsea.

Reports in Israel say that Chelsea and Liverpool reached a compromise transfer fee today clearing the way for Israel’s captain to move to Stamford Bridge.

The Premier League champions had a £4 million offer for midfielder rejected last month by Liverpool who were demanding £10 million.

Benayoun, 30, who is on holiday in Israel, will fly back to England later this week to undergo a medical at Chelsea’s Cobham training ground.

Benayoun joined Liverpool from West Ham in 2007 and signed a new four year deal at Anfield last summer worth $75,000 week. It is believed that Benayoun will earn more at Chelsea.

Benayoun scored nine goals in 42 matches for Liverpool last season but fell out with former manager Rafa Benitez towards the end of the season.

Chelsea boss Carlo Ancelotti wants Benayoun to replace England international Joe Cole who has been released.