Miguel, 27, joined Valencia in 2005 from Benfica and has been an key part of the Spanish side ever since. Despite only signing a contract in September of this year which should keep him at the club for a further five years, it is thought that the Portuguese international could be making a January exit.
Paulo Ferreira has in my opinion struggled since coming to the Premier League in 2004 from Porto, and I feel that this could be a positive move for his career as the 28 year old is more likely to be able to cope with the physicality of La Liga than the Premier League.
It is thought that as well as Paulo Ferreira that Chelsea are going to have to pay a further £10 million for the right back.