Chelsea have been offered the chance to re-sign Petr Cech as they ready themselves for a Real Madrid raid for Thibaut Courtois according to Sky Sports.
The Stamford Bridge club are also interested in Kasper Schmeichel and Gianluigi Donnarumma amid expectations that the Belgian will leave west London this summer.
Arsenal are open to selling Cech to provide manager Unai Emery with the funds needed to continue rebuilding his squad.
Emery is still keen to sign Steven N'Zonzi, who won the World Cup with France this summer.
The veteran has already turned down a move to Napoli to stay at the Emirates and fight for his place with new arrival Bernd Leno.
Courtois is currently in Spain on holiday, although not in Madrid - he is in Tenerife.