Chelsea are prepared to meet Real Madrid's valuation for Raphael Varane this summer.

The Frenchman has a little over a year remaining on his contract that ends in June 2022 but the LaLiga giants could be forced to cash in on the defender should progress slow down over an extension.

Mundo Deportivo reports Varane remains unconvinced about staying at Real and Chelsea are willing to pay the £61million needed to bring him over to Stamford Bridge.

The report says Real need to raise money to fund moves for star players such as PSG's Kylian Mbappe, and the expected arrival of David Alaba, also 28, on a free transfer from Bayern Munich can allow a current centre-back to leave.

Paris Saint-Germain are also said to be interested in Varane this summer as well as Ole Gunnar Solskjaer's Manchester United.