Chelsea are being offered left-back Marcelo by Real Madrid, as the Spanish champions look to fund a move for Tottenham winger Gareth Bale.
Real have made Bale their number one priority signing in the summer, if a January buy is not possible, and as the Welsh international will cost a considerable amount, Real are ready to offload the Brazilian international.
The Spanish club have made Chelsea aware that Marcelo will be available for £25 million ($40 million), knowing that the Blues will be in the market for a new left fullback, with Ashley Cole expected to leave for Paris St. Germain when his contract expires at the end of the season.
While Ryan Bertrand has come along nicely at Stamford Bridge, it is understood Chelsea would be interested in making a move for Marcelo, who is now seen as one of the best left-backs in Europe, but has seen his current season curtailed due to a serious injury .
According to reports in Spain, Real are ready to bid in excess of £50 million ($80 million) for Bale, and have been encouraged to make a move as soon as January, after the Welshman recently admitted he would be open to joining a club outside England.
Meanwhile, Gianfranco Zola has rubbished reports of him wanting to take over the top job at Chelsea by using Watford as a springboard.
Zola admitted in an interview to France Football that he would one day like to be a good enough manager to be considered for a top job like the one at Chelsea, but is not happy with the way his words have been played out in the media.
The Chelsea legend is a fan favorite at Stamford Bridge and a return would no doubt be welcomed with open arms, especially considering the situation with Rafa Benitez. However, Zola insisted he is perfectly happy at Watford and has no immediate plans to leave.
"I don't like it (the stories) at all," Zola told Watford's official website. "I'm not using Watford as a promotion for myself.
"I care massively what happens here, and I am trying things in the best way possible.
"Most of all I am upset for fans having to read headlines which are a long way from what I am saying. I speak from the heart about Watford, and what we are trying to achieve here on behalf of the whole club."