Chelsea are ready to splash out on Bayern Munich winger Franck Ribery.

Bayern Munich's new president Uli Hoeness is ready to cash in on Chelsea target Ribery if the France star does not sign a new contract in the next few weeks.

The Bundesliga club resisted all bids for the 26-year-old last summer, but Hoeness now concedes that Ribery will be sold if his contract to 2011 is not extended by the spring.

Chelsea owner Roman Abramovich is ready to sanction a £45million move, while Real Madrid, Manchester United, City and Barcelona will also be alerted by the admission that this season could be Ribery's last at the Allianz Arena, says the Daily Mail.