Chelsea have reportedly been informed of AC Milan's valuation for Rafael Leao.
The Blues were believed to have submitted a €80m (£69m) offer for the Portugal international in the latter stages of the summer transfer window, but their bid was subsequently rejected.
While a move to Stamford Bridge never materialised in the summer, Chelsea are still interested in signing Leao, who has two years left on his current contract.
According to The Sun, Milan have set an £87m asking price for the 23-year-old, with Chelsea currently leading the race for his signature.
Although Chelsea appear to be at the front of the queue, Manchester City have also been credited with showing interest, while Milan are still determined to reach an agreement over a new contract.
Leao will have the chance to impress Chelsea when AC Milan face the Blues in Wednesday's Champions League contest, with the winger looking to add to the four goals and seven assists that he has registered in nine appearances this season.
