Drinkwater is set to sign on the dotted line ahead of tonight's 11pm transfer deadline.
Sky Sports reporter Kaveh Solhekol said: "Danny Drinkwater is close to becoming Chelsea player. Deal with Leicester almost done. Could get extension until 1am to complete paperwork."
Starsport understands the Drinkwater deal WILL go through.
That's unlike the transfer for Ross Barkley, which dramatically collapsed earlier tonight.
Barkley passed his medical with Chelsea, but performed a late minute U-turn and decided against moving south.
Everton majority shareholder Farhad Moshiri said: "Well the two clubs agreed a deal of £35m.
"Personal terms were agreed, but after the medical we heard from Paul Martin, Ross Barkley’s agent, that he changed his mind.
"And he wanted to reconsider his position during the January window.
"That is the latest we have been advised.
"He is currently injured so technically he will be with us because he is under contract for another year."
