Pizarro quit German giants Bayern Munich on a free transfer to join the Stamford Bridge outfit.

His sale followed Bayern's signing of Italian World Cup winning forward Luca Toni from Fiorentina earlier this week.

Pizarro had found himself being pushed down the pecking order in Munich, behind Roy Makaay, Lukas Podolski and now Toni.

And with the likes of Didier Drogba and Andrey Shevenchko at the west London club, he is hardly likely to figure any more regularly, though he said it was trophies that interested him.

"I think it's very important for me to win some titles and I have the chance here to win them," he told Chelsea TV.

"The most important thing is the Champions League which I was looking to win with Bayern, but we didn't have the chance.

"I think now we have a good team, a good trainer and the chance to win it. I had some interesting offers, but the most important thing was that I talked to the coach, I talked to the people here, and they were very interested.

"We have many chances to win titles here and that's what I want.

"I get used very fast to playing with different kinds of players. I did it at Bayern and I don't think it will be a problem now."

The signing is Chelsea's second of the summer following the recruitment of Oldham starlet Danny Philliskirk.

Pizarro had been expected to put pen to paper on a four-year deal at Stamford Bridge with unsettled defender Khalid Boulahrouz tipped for a move in the opposite direction.

Boulahrouz has failed to settle in England following his 10 million pound move from Hamburg last summer and would welcome a return to Germany.

Chelsea are said to be delighted with the signing of 16-year-old Philliskirk, son of Latics youth team coach Tony, who signed a four-year deal.

Philliskirk will undertake a two-year scholarship before moving onto a professional contract for the remainder of his spell.

Oldham are expected to benefit from numerous add-ons and Chelsea have agreed to send some of the club's top youngsters out on loan to Boundary Park.