Chelsea Transfer News: Latest on Antoine Griezmann and Theo Walcott Rumours

Chelsea will look to add to their attacking stock in the summer with potential swap deals to obtain Atletico Madrid's Antoine Griezmann and Arsenal's Theo Walcott.

Rhys Turrell of the Daily Star says Jose Mourinho is willing to match Frenchman Griezmann's £43 million release clause but will send Filipe Luis back to Atletico as a makeweight, 12 months after signing the defender along with Diego Costa.

Luis has failed to make an impact at Chelsea, with Cesar Azpilicueta dominating the full-back position. The 29-year-old Brazilian has been reduced to just 15 Premier League appearances in 2014-15, per Squawka, predominantly consigned to the bench.

Kirsty Wigglesworth/Associated Press

Atletico player Tiago said Luis would be welcomed back to the Calderon with open arms, should his time in west London come to a premature end, per Turrell:

"We all know Felipe. I love him. If he is not happy, then he knows the doors are open here. Here we always want players who have served the club and I have no doubt that he'd be well received."

Griezmann has impressed this term after making the step up to Atletico—after their championship-winning season—and the versatile attacker has been a regular goalscorer.

The 24-year-old has netted 24 times this season for the Rojiblancos in La Liga and Europe, per WhoScored.com, and a move to the EPL champions would surely tempt the striker.

Daniel Ochoa de Olza/Associated Press

Chelsea legend Marcel Desailly recently said to Liam Twomey of Goal.com that he believes Mourinho must add to his striking options if the team are to progress:

"Chelsea needs another striker. Costa has done well, Drogba also, but they need a third top player—a Cavani, a Higuain, someone very close to Costa [in ability] to be able to think about winning a Champions League."

Griezmann is one of Europe's burgeoning talents, but his release clause appears steep, considering his current ability and potential use for Chelsea. He can play as the central striker but is not likely to start when Costa is fully fit, forcing the young player into a wider role.

But Chelsea are not short of players in this department, so a £43 million addition in this specific position looks unlikely when assessed logically.

Walcott to Chelsea in Shock Swap for Cech

In other news, reports suggest Mourinho will welcome Theo Walcott to Stamford Bridge as a sweetener to allow Petr Cech to move across the city to Arsenal.

Joe Short of the Express cites the Sun's claim that Chelsea want the England international, with Alex Oxlade-Chamberlain also on the Special One's radar.

Walcott has suffered a disastrous 18 months after an ACL injury curtailed his involvement with the Gunners. Before his injury, Walcott had appeared to have matured into one of the EPL's most dangerous wide attackers, but it is questionable whether Mourinho would want to take a chance on the talented player. 

Oxlade-Chamberlain is a better fit for Chelsea—but Arsenal boss Arsene Wenger cannot let go of one of his best young talents in order to land his goalkeeping target.

The Ox might not have developed with the gusto many fans would have liked, but at just 21 years old, he has much more to offer.

Walcott needs game time, but a move to Chelsea would see him consigned to the bench, as he already is at Arsenal.