Manuel Pellegrini has emerged as the leading candidate for the Chelsea job after confirming he will be stepping down as Manchester City manager.
The Chilean revealed this week that he would be replaced by Bayern Munich at the end of the season as City look to move in another director.
Chelsea will be on the lookout for a new boss in the summer with Guus Hiddink only in place until the end of term after being parachuted in following the sacking of Jose Mourinho.
Pellegrini will be available and a report in Chilean newspaper, El Mercurio, claims the Premier League champions have already opened talks with the former Real Madrid chief.
"Pellegrini is delighted with the idea of staying in the Premier League," a source close to Pellegrini is quoted as telling the paper.
"Chelsea is one of the clubs he has been talking to, and they’ve shown a very attractive offer."
Video: Manuel Pellegrini on Pep Guardiola coming in at City...
SkyBet are pricing Pellegrini at 2/1 for the Stamford Bridge hotseat but he is also understood to have offers from across Europe.
Valencia (3/1), Chile (5/1), Atletico Madrid (6/1), PSG (8/1), Villarreal (10/1), Malaga (10/1) and even Manchester United (10/1) are also tipped to be clubs where the Chilean could end up next.
"I hope to remain with competitive teams in Europe, I am not thinking about returning to Chile at least for the next three or four years," Pellegrini said recently.
"If it is something, like the next World Cup, to which I could bring my experience in other leagues, surely, I would consider it.
"As for now, I would like to have the project of a club at which I am competing each week.
"I think the solution is to find coaches who are closer to the local environment."