Chelsea believe Joao Felix is too expensive and they will try to offer some players to Atletico Madrid to facilitate an exchange deal.
According to the Evening Standard, the Madrid club admires Pierre-Emerick Aubameyang and Marc Cucurella. Chelsea could offer the pair in exchange for Felix.
The Blues took Felix on a six-month loan deal in January. They want to make the move permanent, but Atletico are trying to recoup as much as possible on the Portuguese international.
After only one season in the top flight, Los Colchoneros paid €127 million to sign him from Benfica.
Atletico want something close to that sum, but the Blues don’t want to throw around more money after spending £600 million over the past two transfer windows.
What they do have in abundance is players. They have a bloated squad and want to offload several players this summer.
Aubameyang, whom they signed for £12 million last summer, is up for sale after failing to impress.
Barcelona want to take him back to play back-up to Robert Lewandowski, but they are strapped for cash.
Atletico are interested in Cucurella. Chelsea surprisingly stumped £62 million to sign the defender from Brighton & Hove Albion last year.
Cucurella has had some decent showings, but some performances have been poor. Chelsea could let him leave this summer, especially with the return of Ian Maatsen from his loan spell at Burnley.
Atletico want £88 million (€100 million) for Felix, but Chelsea do not want to pay that. It is unclear how a swap deal will work, but it is an option.
Felix is happy in London and does not want to return to Madrid, but the clubs must agree a fee or exchange rate.