Palermo president Maurizio Zamparini has confirmed the club have received a €50 million bid for highly-rated midfielder Javier Pastore.
Barcelona, Manchester City and Juventus are all reportedly keen on the 22-year-old Argentine but Zamparini revealed Chelsea were favourites to land Pastore.
"Pastore is a phenomenal player and there are three or four clubs interested in him. I am a businessman and I will not lose my cool, but it is clear that clubs who want Pastore must have the economic power to submit a proposal," he told the Daily Mirror.
"Chelsea are one of the clubs concerned, but we have to wait to see what Villas-Boas, the new coach, decides. The same goes for Juventus, although they are less interested than the English. I would love him to stay in Italy, but it is very unlikely."
Pastore's agent, Marcelo Simonin, backed up Zamparini's claims. "It's true, there is someone that wants him at that price," he told Gazzetta dello Sport.
"This is the basis, hence, the price will absolutely not be lowered.
"If anyone wants him they can contact us. Pastore is calm and never asks me about the (transfer) market, we speak about other things."
The Stamford Bridge outfit look to have lost out in their bid to sign Santos striker Neymar after club president Luis Alvaro Riberio said he no longer believes the Brazilian star will be sold.
Neymar has been strongly linked with a move during the summer transfer window, with Real Madrid, Barcelona, Chelsea and Manchester City interested in the 19-year-old.
But Ribeiro insists the player is going nowhere.
"In the face of continuous speculation over the future of Neymar by the national and internatnioal press, I state that Neymar is not negotiable for technical, market and attachment reasons," he said in a statement on the club's official website.
"Technically, he is the best active Brazilian player. He was decisive in the conquest of four titles for Santos in the past 18 months, plus the pre-Olympics for the Brazil national squad, at the start of the year."
After Barcelona rejected a £27m bid for David Villa reports suggest Chelsea will instead turn their attention to signing Atletico Madrid striker Sergio Aguero; after the striker's advisers tried to get the club to reduce their release clause.
Villas-Boas's first signing as Chelsea manager is Cameroonian striker Gael Etock, the Daily Mirror reports.
Etock, 17, arrives from Barcelona and is expected to be loaned to Sporting Lisbon before joining the Chelsea academy.