Reports suggest Chelsea have opened talks with Carlo Ancelotti's advisors about the AC Milan boss becoming Avram Grant's successor at Stamford Bridge.
It is believed Blues owner Roman Abramovich has made Ancelotti his number one choice to take on the managerial role.
Current Blackburn Rovers boss Mark Hughes has also been linked with the vacancy but he is now expected to replace Sven-Goran Eriksson at Manchester City.
Luiz Felipe Scolari, Roberto Mancini, Frank Rijkaard and Roberto Mancini have also been linked with the job since Grant left the club ten days ago.
At the weekend the Rossoneri's vice-president, Adriano Galliani, insisted Ancelotti would still be at the San Siro next season.
The 48-year-old is under contract with Milan until the summer of 2010, and Galliani said: "Ancelotti is very happy at Milan. We do not sell players, never mind coaches.
"Ancelotti was on Chelsea's shortlist. It is true that the English club have two Italian coaches in their sights, one of which is Carlo.
"Between the club and Ancelotti there is a common purpose. He will be here for many years to come.
"Look at Sir Alex Ferguson. He did not win anything at Manchester United for years but, like Ancelotti, he is in perfect harmony with the club.
"With regard to Carlo, that harmony stems from him being a Milan player for five years and coach for eight years."