Carlo Ancelotti rejected the chance to rejoin Chelsea as manager in November, before his move to Bayern Munich was announced.
Borussia Dortmund could be tempted if Arsenal bid £60m for newly-crowned African Footballer of the Year Pierre Emerick Aubameyang.
Christian Benteke still has to persuade Jurgen Klopp he has a long-term Liverpool future.
Manchester City are in talks with Central Coast Mariners over Australian midfielder Anthony Caceres.
QPR want to sell goalkeeper Rob Green in a bid to offload his wages.
Reading are in talks over a £3m deal for Peterborough's Conor Washington.
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