Chelsea have been on the lookout for a new manager since Liam Rosenior’s dismissal after his disastrous 107 days in charge.
The club’s ownership promised a ‘period of reflection’ following their Rosenior experiment and several fan protests.
Former Real Madrid boss Xabi Alonso has been their primary target throughout their search, and a deal has been agreed according to Ornstein.
Alonso, 44, will sign a four-year deal with the Premier League side with an announcement expected imminently.
The former Liverpool midfielder visited London early this week to hash out the details of his deal with Chelsea.