Chelsea technical director Michael Emenalo added: 'Danny is not only a Premier League victor but also has Champions League experience which will be invaluable for us this season.
However, on deadline day reports broke that Spurs wanted to sign him, with a bid accepted by Swansea.
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While remaining elevated, United Kingdom inflation unexpectedly eased from 2.9% to 2.6% in July. Manufacturers' selling prices rose at a solid, yet slower, pace.
Spurs have bought a bargain in the 32-year-old, even if he is a short term addition.
Llorente appears to have been the third transfer Spurs beat Chelsea to over this summer.
Llorente was key to Swansea's survival last season, scoring 15 goals for a struggling side that may well have been doomed without him.