The Sun says Blues boss Carlo Ancelotti wants Borussia Dortmund's Serb centre-back, 20, as the linchpin of his defence for years to come. But he faces stiff competition from Manchester City and AC Milan.
Subotic's agent Stephen Kelly said: "It will take a hell of a lot of money to get Neven. He's happy with his new four-year contract. It's a bloody good one, too."