Chelsea reportedly failed with a €10m bid for Barcelona winger Ousmane Dembele during the January transfer window.
Having not been willing to pen fresh terms at Camp Nou, Dembele was told that he was free to find a new club at the midway point of the campaign, rather than wait until the end of his contract.
Chelsea, whose head coach Thomas Tuchel has previously worked with the Frenchman, were heavily linked with an approach for the 24-year-old.
According to Sport, the European champions were prepared to pay €10m, plus bonuses, to get a deal over the line before Dembele becomes a free agent.
However, it is claimed that the player opted against making the switch to another club in January, instead preferring to wait until the summer where he may have his pick of clubs.
The report adds that Chelsea, Manchester United and Juventus are currently regarded as the clear frontrunners to secure his signature.