Chelsea may yet complete a deal for Brazilian forward Hulk, but reports that a fee had already been agreed with Porto appear to have been premature. It had been widely claimed over the past several days that the Blues had a £38 million offer accepted by the Portuguese club, but ESPN has poured cold water on the stories.

The latest report is based on an exclusive source, who addresses the speculation by stating: I wish that was true, but there is no deal with Chelsea.

While Chelsea could be attempting to push down the price for the 25-year-old, the club may also be waiting for a new manager to sanction the transfer. If indeed Roman Abramovich still believes he can lure Pep Guardiola to Stamford Bridge, then he may be wise to hold off signing a player who wouldn't seem a natural fit for the former Barcelona coach.

Regardless of Hulk's signing, Chelsea may look to bring in a central striker to replace the departed Didier Drogba this summer. Prolific Colombian Radamel Falcao has been strongly linked, but, according to ESPN, the Blues are currently unwilling to meet Atletico Madrid's £45 million asking price.

The valuation may be negotiable, though, with the La Liga outfit potentially still owing Porto over £23 million for the signings of Falcao and Ruben Micael last summer. Although it it not that unusual for transfer fees to be paid off via long-term installments, Atleti's failure to qualify for the Champions League could make their debts appear all the more daunting.

It appears increasingly doubtful that Chelsea will sign fellow-South American, Lucas Moura, however. Both Chelsea and Inter are said to have made bids for the 19-year-old, but Lucas has instead talked up interest from Real Madrid, while insisting he is happy at Sao Paulo.

It would be a dream to play for Real Madrid, they are one of the biggest clubs in the world, Moura told Esporte Espetacular.

But right now I am only focusing on Sao Paulo.

The Brazilian winger did admit that his parents had met with Real officials.

My parents visited Spain with my agent, they met the club's president, they were probably even invited by Real Madrid's president.

They sat to talk, but there isn't anything official.

There has also been further speculation in recent days linking Chelsea with a move for Foday Nabay. The highly-rated 14-year-old is currently at Birmingham, but is also attracting strong interest from the likes of Liverpool and Manchester City, according to the Daily Mail.

While Drogba, Salomon Kalou and Jose Bosingwa will be moving on this summer, one man Chelsea remain determined to hold on to is Branislav Ivanovic. The Serbian, who has operated effectively both at center-back and right-back, has been linked with moves to Real Madrid and Napoli.

But the 28-year-old's agent, Vlado Borozan, has said that neither player or club is eager for a parting of ways.

Ivanovic extended his contract until 2016 and wants to meet the terms of that deal, Borozan told Tuttosport.

Chelsea want to keep him and he has no plans to leave the club, and I don't know if his wages would be within the economic reach of Napoli.