'A Bola' informed that the Blues have reached a loan agreement with Bayern Munich after accepting the conditions laid out by Ancelotti's side.
Renato has found it hard to break into the starting lineup and his transfer to the Allianz Arena was too substantial to keep him on the bench another season.
Ancelotti is keen to make the most of Chelsea's interest, which will allow the Portugal international to enjoy high-level game time while on loan at Stamford Bridge.
If everything goes to plan, the signing will be announced tomorrow and Sanches will meet his new teammates this week before making his Premier League debut.
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