Monaco are close to finalising agreement with veteran Portugal centre-back Pepe.
Coach Thierry Henry has already lined up Cesc Fabregas to join from Chelsea but now hopes to have convinced 35-year-old Pepe to join too.
Pepe has an offer from his former club Porto and has also been discussed by Premier League Wolves. He is a free agent after his contract with Besiktas was rescinded.
Fabregas is expected to move to Monaco following his appearance in the FA Cup against Nottingham Forest.
Chelsea have lined up a number of alternatives to replace Fabregas with Cagliari's Nicolo Barella among them.
Highly-rated by Gianfranco Zola and head coach Maurizio sarri, Barella is valued at £45million and is a target fro Napoli.
Chelsea also remain keen to bring in Gonzalo Higuain to aid Sarri's attack.
