Chelsea have been offered Real Madrid striker Gonzalo Higuain for £34 million.
The Telegraph says Higuain is known to Ancelotti and his cause is being pushed by agents who are close to the former Juventus executive, Luciano Moggi. Ancelotti is a former Juve coach, of course and has a good relationship with Moggi, who is trying to help broker a deal.
The 22-year-old striker is demanding a salary of €4.5 million (£3.9 million) a year with Chelsea also having to pay €4 million to his representatives to secure the deal. That, however, may prove a sticking point given owner Roman Abramovich's stance over such fees.
It appears that Chelsea would, however, turn to Higuain only if their attempts to secure Liverpool striker Fernando Torres, a long-term target, fail.