Chelsea have reportedly proposed a swap deal with Real Madrid which would see Eden Hazard join the La Liga side and Gareth Bale head the other way.
Hazard has long been linked with a switch to the Bernabeu but recently insisted that he is happy at Stamford Bridge, where his current contract runs until 2020.
Bale, meanwhile, has only started five of Real's last 10 games, fuelling yet more speculation over his future.
According to Don Balon, Chelsea have proposed a swap deal involving Hazard and Bale, claiming that the former wants to join Real and the latter is desperate to return to the Premier League.
Previous reports have suggested that it would take an offer of Bale plus £100m in cash in order to persuade Chelsea to let Hazard go.