Chelsea are demanding Real Madrid president Florentino Perez get serious about his valuation for Mateo Kovacic.

The Croatia midfielder is on a season-long loan at Chelsea, where he has impressed.

No permanent option is involved in the deal, though it's suggested Real would be willing to sell for €50m.

However, Chelsea believe such a fee is too steep and are warning Perez to drop his price or they'll send Kovacic back in June.

The midfielder is tied to Real until 2021 and his deal carries a €300m buyout clause.