John Stones
John Stones has had a bid rejected by Everton from ChelseaGetty

Chelsea have had a £20m ($31m) bid rejected for Everton defender John Stones and the Toffees are holding out for a British record £31.9m ($50m) bid for the defender to consider letting him leave this summer, according to the Mirror.

The report states that Manchester United are also in for the defender should they fail to sign Sergio Ramos from Real Madrid, after the club issued an ultimatum stating that they will only allow David de Gea to leave the club if Madrid allow their captain to transfer the other way.

Manchester City are also interested in the player to add to their home grown quota, but Chelsea are the most interested in his signature and are expected to come back with an improved bid later in the window. Jose Mourinho has earmarked the player as a long-term successor for John Terry, with the defender having entered his mid-thirties and unlikely to carry on for much longer.

However, Stones recently stated that he is happy at the club. Chelsea are unlikely to be dissuaded, with Mourinho having made signing a young defender his top priority in the remaining part of the window.

"I am very happy at Everton. My aim right now is to try to nail down a regular spot in this Everton team and hopefully that will take care of playing for England. I have to keep learning from the likes of Phil Jagielka and keep progressing at this club," Stones said, as quoted by the Guardian.

Chelsea are currently in Montreal, Canada for their pre-season tour where they will face the New York Red Bulls, Paris Saint-Germain and Barcelona before returning to England to play Arsenal in the Community Shield at Wembley on 2 August.

Meanwhile, Everton face Arsenal in the final of the Barclays Asia Trophy in Singapore on 18 July.