It is understood the Gunners have made the Foxes star their priority this summer as Mikel Arteta looks to add creativity to his side.
But the Blues are also eyeing up a move for the 24-year-old.
They state that they will look to bring the England international to Stamford Bridge should Hakim Ziyech depart.
Leicester are seeking a fee in the region of £60million for Maddison.
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