With Arrizabalaga's arrival, the Blues are expected to sanction the departure of Courtois, who has been constantly leaning towards a Real Madrid move.
Thibaut Courtois believes he has linked up with "the best club in the world" after trading life at Chelsea for that at Real Madrid.
Kovacic will join Chelsea on loan until June 30, 2019 as part of the deal, with the Croatia global spending a season away from the club he joined from Inter Milan in 2015.
The Belgian, who won the Golden Glove at this summer's World Cup, kissed Madrid's badge in front of the supporters in attendance.
Kepa is Spain's number two behind Manchester United's David de Gea.
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Then it was announced that 23-year-old Kepa had penned a seven-year contract with Chelsea making him the most expensive goalkeeper in history at 80 million euros ($92 million). Considered Spain's goalkeeper of the future, he was a reserve at the World Cup in Russian Federation.
Meanwhile, Kepa will replace the Belgium worldwide in a deal that will see him become the world's most expensive goalkeeper, surpassing the £65m paid by Liverpool to Roma for Brazil goalkeeper Alisson Becker last month.
Sarri is also getting Kovacic, who had not played much with Madrid since joining the club in 2015 and had been seeking a transfer.
Kovacic has enjoyed a wonderful summer with his nation, helping his Croatia reach the World Cup final and performing wonderfully alongside Luka Modric in midfield.