Bayern Munich have made a fresh £35m bid for Callum Hudson-Odoi, reaching Chelsea's valuation of the winger, Sky Sports News understands.
The bid, which does not include a buy-back clause, is Bayern's fourth offer for the England U19 star, who has so far only made 11 senior appearances in Chelsea's first team.
Hudson-Odoi is believed to have told Chelsea that he wants to leave Stamford Bridge.
Chelsea are understood to have turned down Bayern's third bid of £30m on Monday evening and Bayern have continued their pursuit for Hudson-Odoi, who has 18 months left on his contract at Stamford Bridge.
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Sky Sports News understands he will not take up their latest offer as he favours a move to Munich ahead of interest from Juventus and RB Leipzig among other clubs.
Bayern, buoyed by the success of Jadon Sancho at Borussia Dortmund, have already seen offers of £13.5m, £20m and £30m rejected by Chelsea.
When asked if moving to Germany would be wise, the head coach said: "I don't think so, because he is an English player.
"He is very young, he has the future. He has a very great future here in England, with the national team and Chelsea. To stay here is better for him.
"I know only that for me he is a very important player. He is very young but now he is improving especially in the defensive phase.
"He played really very well in the last match. I am really very happy with him. I don't know the situation with the club."