The Serb has turned into a key figure for Carlo Ancelotti's side this season yet Milan believe Chelsea will bid for Inter's Brazilian Maicon this summer and want to tempt them to sell Ivanovic as a result.
Chelsea pipped Milan, among others, to sign Ivanovic from Lokomotiv Moscow in 2008, but he barely figured under Avram Grant and that prompted Milan to offer £10m for the 26-year-old last year.
Aston Villa and Manchester City have also expressed interest but Ancelotti is hoping to start talks over a contract extension.
Make-weight: Branislav Ivanovic joined Chelsea in January 2008
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