Chelsea have signed Ben Chilwell from Leicester on a £50 million ($66 million) transfer.

Leicester initially sought £80 million for Chilwell.

"'I am delighted to be joining Chelsea at this very exciting time for the club," Chilwell said. "I'm looking forward to being a part of this young, dynamic squad led by Frank Lampard as we challenge for honors next season.

"I can't wait to get started and hopefully it won't be long before we're playing in front of the Chelsea fans at Stamford Bridge."