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Coentrao set to reject Chelsea in favour of Real Madrid

Benfica were happy to accept Chelsea's cash plus player offer for Fabio Coentrao, but the player is holding out for a move to Real Madrid. But Chelsea are reported to have countered Madrid's offer with that of Serbian international Slobodan Rajkovic. The 22-year-old has spent the last four seasons on loan in Holland, with PSV Eindhoven, Twente and Vitesse Arnhem.

Benfica were seemingly receptive to Chelsea's offer but their director of sport Rui Costa has confirmed that they have not received an offer which Coentrao was happy with.

"Today Fabio Coentrao is Benfica's, but of course he is coveted because of what he has done," Costa told TVI.

"So far, Benfica has not received an offer which we know he wants."

 It's kicking off again! Click here for your No1 source for Chelsea transfer market news and gossip.

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Dave Williams

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