Brazilian playmaker Oscar

AP

European champion Chelsea has signed Brazilian playmaker, Oscar from Internacional in a deal said to be worth 25 million pounds ($38.7 million).

According to The Associated Press, the 20-year-old, whose full name is Oscar dos Santos Emboaba Junior, currently is with the Brazilian team for the London Olympics. The transfer was announced Wednesday.

Oscar made his debut for Brazil's national team as a substitute in a 0-0 tie with Argentina last September. He has one goal in his six international appearances.

Oscar is a product of the Sao Paulo youth academy and joined Internacional in December 2010.