The midfielder has just helped Ipswich Town win promotion after a superb season-long loan.
Voetbal International says Feyenoord and Ajax are eyeing Hutchinson.
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Feyenoord finished second in the league, while Ajax were fifth.
A Feyenoord delegation have already been to England to explore the possibilities of getting a deal done.
There is a good chance that Chelsea will agree to sell the talent, given FFP concerns. Hutchinson's contract with the Blues expires in the summer of 2025.