And this could result in the Premier League champions pursuing the option of Krychowiak.
Drinkwater, 27, is wanted by the Blues but they are a long way from Leicester's valuation.
Chelsea have already had a bid rejected last week worth just under £20m.
Krychowiak has emerged as an alternative for Antonio Conte to bolster his midfield.
The Poland international, 27, will be allowed to leave the French giants on loan as they shape their squad following Neymar's arrival.