The website sources respected German newspaper Bild in claiming the Blues are ready to pay €10-15 million for the 22-year-old, with Kevin De Bruyne going the other way to subsidize the deal.
The Blues have been longtime admirers of Schurrle, and tried in vain to bring him to Stamford Bridge last summer.
However, it appears that Leverkusen has now crumbled to the advances and is willing to let its star exit as long as De Bruyne arrives to soften the blow.
So considering one talented youngster looks like he's arriving at the club with another one departing, what sort of coup would this represent for Chelsea?
Personally, I'm feeling a little underwhelmed at the prospect and not due to any slight on Schurrle's abilities.
The former Mainz man has again been a key figure for Leverkusen, and eight Bundesliga goals with plenty of assists from a wide forward position has put Sami Hyypia's side on the cusp of Champions League qualification.
Schurrle is a regular fixture in Joachim Low's talented Germany side and came off the bench in its recent World Cup qualifier against Kazakhstan.
His versatility means he can occupy a central striking role or play out wide, and from the flashes I've seen of him, he appears to possess the technical and physical attributes to make him a success in the Premier League.
I remember him causing Chelsea plenty of problems in the two clubs' Champions League meetings last season, and his signing would be one that I would advocate.
But I just cannot understand the logic in allowing De Bruyne to go as a sweetener.