After declaring an interest in Dani Alves but not agreeing a fee with Sevilla, Chelsea closed in on Belletti - underlining chairman Bruce Buck's insistence that they would not be held to ransom in any transfer deal.
Alves, who has been tipped to join Arjen Robben at Real Madrid, is seen as one of the most exciting full-backs in Europe.
But in Belletti, Chelsea have a 31-year-old, also Brazilian, who scored the winning goal in the Champions League final two seasons ago.