The bank-busting move was reported last night by Mercato365, who also claim the Blues will face competition from old boss Jose Mourinho who also wants to bring the Frenchman to the Premier League.
Roman Abramovich is reportedly willing to meet the Frenchman's release clause at Atletico Madrid, which is believed to be £89m, and may have made moves to see how viable the transfer would be.
The 25-year-old recently penned a new contract which elevated his release clause to a world-record equalling fee.
The Blues are thought to have stepped up their interest in Griezmann this season and are watching him closely.
With Chelsea sitting fourth in the Premier League, Antonio Conte is thought to want to add to his squad and Griezmann fits the bill perfectly.
The Mercato365 report also says Manchester United are in for the forward, who has scored six
But it rules out a move to Paris Saint-Germain, who have reportedly decided the player does not fit their needs at the club.
Griezmann recently admitted he was keeping his options open.
He said: "You never know what will happen in the future."
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