Chelsea Transfer News: Latest on Romelu Lukaku and Alvaro Morata Rumours

Chelsea are reportedly "close" to bringing Everton striker Romelu Lukaku back to the club this summer as they prepare a mammoth bid for their former striker. However, the hunt for Real Madrid star Alvaro Morata looks to be over.

According to Simon Johnson of the London Evening Standard, the Blues will return to Goodison Park with an offer "in the region of around £60 million," which they feel will be enough to lure Lukaku back to Stamford Bridge.

Tim Ireland/Associated Press

Everton are reported to have placed a £75 million price tag on the forward's head, and Chelsea were some way off that valuation—their previous bid came in at just £57 million.

Chelsea have appeared eager to get their former starlet back to west London for quite some time, but Belgian football expert John Chapman has stated his belief they won't be getting value for money:

A move back to Stamford Bridge could see Lukaku link up with Belgian compatriots Eden Hazard and new signing Michy Batshuayi in attack, although it would pose questions regarding Diego Costa's future at the club.

The Spain international was being linked with a potential move back to Atletico Madrid, but Metro's Chris Winterburn noted that comeback may no longer be possible:

The interest in Morata looks likely to be over after Real manager Zinedine Zidane reiterated his desire to hang on to the forward following Los Blancos' 3-2 friendly win over Chelsea in Michigan on Saturday night.

Zidane addressed the media after the match and confessed he has full intentions of hanging on to Morata this season after Real re-signed the player from Juventus: "He's a Madrid player, we're delighted with him. We are delighted to have him back, back to his original home. He will remain a Madrid player."

Andres Kudacki/Associated Press

Costa and Batshuayi look likely to duel for the striker spots under Chelsea manager Antonio Conte as things stand, while Loic Remy remains as a back-up option unless he secures a move away from the club.

It's difficult to imagine such a gargantuan figure being spent on Lukaku unless Costa were to leave the club, although Chelsea would be getting their hands on a prolific Premier League figure, as shown by Squawka:

Lukaku made just 15 senior appearances in three years with Chelsea before leaving for Everton on a permanent basis in the summer of 2014, but he's since come upon huge success with the Toffees.

After bagging 61 goals in 127 appearances for the Toffees, Lukaku now boasts one of the biggest price tags in European football, but Chelsea nevertheless feel confident of reclaiming their former charge.