The Blues have been linked with Barcelona attacking midfielder Philippe Coutinho in the past but were unable to make a move for the Brazilian last summer due to the transfer ban.
Coutinho is currently on loan at Bayern Munich and the Germans have opted against making his stay permanent.
Bayern Munich do not think Coutinho has done enough to warrant the £109million it will take to sign him permanently.
Barcelona are keen on selling the Brazilian this summer after failing to make an impact at the club since his transfer from Liverpool.
According to Mundo Deportivo, Barcelona are now prepared to reduce their asking price to nearer the £70m mark.
It means they will take a significant loss on the player they paid over £130m two years ago.