Juventus have reportedly rejected Chelsea's offer of a swap deal that would see Gonzalo Higuain and Alvaro Morata move clubs.
The Blues have been negotiating with Juve over a permanent switch for Higuain, who is currently on loan with AC Milan to complicate matters.
Milan boss Gennaro Gattuso revealed on Saturday that the Argentina international wants to leave San Siro before the end of the month, and Chelsea manager Maurizio Sarri is keen on a reunion, three years after last working with the striker at Napoli.
Calciomercato claims that the Blues offered former Juve ace Morata as leverage to help push through a deal, but the Italian champions are only interested in a cash offer.
That could put an end to negotiations, as it is claimed that Chelsea are unwilling to match Higuain's £45m price tag, which would equal the amount offered by Milan last summer.