Chelsea are willing to sacrifice team captain Reece James as they plan a move for Real Madrid midfield Aurelien Tchouameni this summer.
The France international moved to Los Blancos from Monaco in 2022 for €80 million.
He signed a six-year deal that expires in 2028, but Chelsea are prepared to offer James as part of a swap deal for the 24-year-old.
Tchouameni made 32 appearances for Real Madrid across all competitions this term and has been relied upon to play as center back on several occasions recently.
Real are searching for an eventual successor to Dani Carvajal and have been repeatedly linked with James in the past.