Blues can sign Alex for $1.50

THE man who knocked Arsenal out of the Champions League can sign for Chelsea in the summer for just US$1 (S$1.50).

Brazilian defender Alex was signed from Santos by the Blues in 2004 for £5.7 million, but immediately transferred to PSV Eindhoven because he could not get a British work permit.

It is not a conventional loan deal because the player is registered with PSV.

But Chelsea have the first option to buy him, and can exercise that by paying just US$1, reported The Daily Mail.

This practice of buying players and registering them at other clubs is regarded in many quarters to be against the spirit of the game, but not banned outright by the rules.

It means that clubs with Chelsea's resources would be able to control the market for the best players by placing them at different clubs, who would then pay for the privilege of having the player in the short term.

PSV's defender Alcides is also reported to be a Chelsea player.

Chelsea have denied that Alex is their player, saying:

'His international transfer certificate is held by PSV, and he is registered with them.

'We have an option to buy him at the end of the season, but he is not a Chelsea player.'

PSV have already admitted they 'rented' him from the Blues. And the player has confirmed: 'I know my contract belongs to Chelsea.'