Chelsea are ready to spend big to sign Real Madrid defender Pepe.
The People says Real are sweating over defender Pepe's future and fear agents are already negotiating a summer move to Chelsea.
The Portugal centre-half has rejected a new deal worth around £3million a year. He wants double that.
Real sources say they "fear interest from other clubs", which is understood to include Chelsea.
Real have slapped a £40m price-tag on the player, who is also wanted by Barcelona and Inter Milan.
Click here for the best Chelsea coverage on the 'net. All your Blues news and gossip in one spot.