The Blues have identified Fofana as one of their top center-back targets for the remaining summer transfer window after Andreas Christensen and Antonio Rudiger left for Real Madrid and Barcelona, respectively.

Leicester reportedly turned down Chelsea's first two offers for the 21-year-old, with their most recent offer being worth more than £70 million.

Both clubs are still in talks about a deal for Fofana, but according to The Independent, West London are only willing to pay £10 million less than Leicester, who are thought to be worth £85 million.

Chelsea is reportedly preparing a third offer for the Frenchman, and even though the Foxes insist the defender is not for sale, they might be forced to sell because of their financial situation, according to the report.

As a result of two financially challenging years for Leicester's Thai owners due to the coronavirus pandemic, it is believed that the sale of either James Maddison or Fofana will likely occur this summer to help the Thai owners' finances.

The Independent suggests that the Foxes could lower their asking price for Fofana to £80m, while a £60m bid may be enough to prise Newcastle United target Maddison away from the King Power Stadium.

With Thiago Silva, Cesar Azpilicueta and summer recruit Kalidou Koulibaly all over the age of 30, Chelsea boss Thomas Tuchel has admitted that he is looking to bolster his squad with a younger defender amid interest in Fofana.