Porto will be asked to considerably lower their "inflated" asking price for Brazilian striker Hulk as a host of interested clubs are refusing to pay the €70 million fee.
ESPN understands Chelsea have yet to reach an agreement with Porto for the signing of striker Hulk.
Barcelona have made an offer to sign Neymar after the Club World Cup, ESPNsoccernet understands.
Chelsea have told Brazilian club Santos that Neymar is far too costly at GBP;41 million and that, as it stands, they have no intention of meeting the player's buy-out clause of that amount.
ESPNsoccernet understands that Chelsea are undecided over whether to pursue their bid for Santos attacker Neymar.
Brazil starlet Neymar has confirmed he would welcome the chance to play in Italy.
ESPNsoccernet understands Chelsea are likely to make a fresh bid for Brazil starlet Neymar in the summer.
Chelsea plan to step up their pursuit of highly-rated Brazilian striker Neymar by tabling a GBP;25 million take-it or-leave-it offer with Santos in the next 24 hours.
Chelsea's opening bid of GBP;20 million for Neymar has been turned down, Santos announced on their website on Tuesday.
Chelsea are contemplating a GBP;25 million bid for Brazilian starlet Neymar, a deal that would see the highly-rated striker become the most expensive teenager in world football.