Atletico Madrid are interested in Olivier Giroud, according to Sky Sports Italia.
Diego Simeone's side were on the verge of signing Nikola Kalinic from AC Milan, but the Italian club are taking too long with Atletico starting to look elsewhere.
Alternative option Giroud has only been at Chelsea since January but the Blues are said to be open to letting him depart.
Representatives from both parties are reported to have met in London to discuss a potential deal, with the La Liga side opting for a loan move.
However, Chelsea would prefer to sell the newly-crowned World Cup winner outright for the right price.
While Giroud is Atletico's wishlist, the possibility of a transfer for Kalinic is still a priority and it's not currently know if the club would be open to signing both players.
For now, Giroud remains a Chelsea player having joined from Arsenal and has scored five goals in 18 appearances for the club.