Gonzalo Higuain will reject a move to the Premier League to stay with Real Madrid, the Metro understands.
Chelsea are reported to have entered the race to sign the striker, who has been a target for London rivals Arsenal since the end of last season.
Manager Jose Mourinho worked with the Argentina international for three years at the Bernabeu, and is said to be keen on being reunited with the 25 year old.
Serie A side Napoli are also keen on signing Higuain, though his agent Enzo Bronzetti believes that is also unlikely, claiming that Real boss Carlo Ancelotti will convince the player to stay in the Spanish capital.
Meanwhile, Manchester United manager David Moyes has reiterated that Wayne Rooney is not for sale amid continued speculation that the England international is set to move on, according to Sky Sports.
The 27 year old is reportedly ‘angry and confused’ at comments made by Moyes that suggest that he is merely a backup to Robin Van Persie.
Elsewhere, Brazilian full-back Wallace is set to be loaned out this season.
The 19 year old was signed by the Blues back in January, before being immediately loaned back to Fluminese before joining up with Jose Mourinho’s side for pre-season training.
Roma are said to be interested in the defender, which could benefit Chelsea in their pursuit of midfielder Daniele de Rossi.
Paris Saint Germain are interested in signing Chelsea defender Branislav Ivanovic, the Metro understands.
The French champions are looking for a replacement for Gregory van der Wiel, who is reportedly on the verge of joining Inter Milan and have identified the Serbian international as their number one defensive target.
It is thought that they will offer the 29 year old a big-money, four year deal to try and lure him to the French capital, though it appears he favours staying at Stamford Bridge.
Meanwhile, the Metro also report that the Blues are hopeful of re-signing striker Didier Drogba.
Jose Mourinho is keen on being reunited with the Ivory Coast international, who he signed from Marsielle at the beginning of his first spell with the club.
Drogba, now at Galatasaray, played in the Turkish sides 3-0 friendly victory at Shrewsbury Town on Saturday; a match attended by a number of Chelsea fans who turned up to see their former hero.
Elsewhere, Daniele De Rossi has not been included in the squad for Roma’s pre-season training camp in Riscone, the Mail Online understands.
The 29 year old, who is an £11millon target for the Blues, has been given an extended break following his participation in the Confederations Cup.
Aston Villa will consider moving for Chelsea’s Demba Ba if they sell want-away striker Christian Benteke, according to the Daily Star.
Benteke handed in a transfer request earlier this week, and will be allowed to leave should a club meet Villa’s asking price of £25million.
Ba only moved to Stamford Bridge six months ago, but it is thought that the Senegal striker is not part of Jose Mourinho’s plans for the forthcoming season.
Meanwhile the Express have claimed that the Blues will move for Wayne Rooney, if they sell either Ba or Fernando Torres.
New Manchester United manager David Moyes has said that the England international is not for sale, though both Chelsea and Arsenal are said to be interested following reports that the striker is unsettled.
Elsewhere, the Independent understands that Daniele De Rossi’s move from Roma to Chelsea is ‘all-but-agreed’.
The Italian midfielder was targeted by Jose Mourinho when both he was charge of both Inter Milan and Real Madrid, though it looks as if he may finally get his man for a fee of £11million.
Finally, the Mail Online have reported that Monaco have joined Turkish duo Galatasaray and Trabzonspor in the race to sign Blues midfielder John Obi Mikel.
Tags: Arsenal, Aston Villa, Christian Benteke, Daniele De Rossi, Demba Ba, Galatasaray, Inter Milan, John Obi Mikel, Manchester United, Monaco, Real Madrid, Roma, Trabzonspor, Wayne Rooney