The latter moved from the Stamford Bridge club to Manchester United last summer.
Mount, who endured a miserable season due to injuries, could be joined by Colwill for next term.
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Per the Daily Star, United see Colwill as an outstanding alternative to Jarrad Branthwaite of Everton.
The latter is their prime target, but they are aware of Everton's high valuation.
Colwill is also highly rated by Chelsea, but may be a little more attainable from a financial perspective.