Torino have knocked back an offer from Chelsea for Andrea Belotti
Chelsea are said to be in the market for a new striker this summer with Diego Costa linked with a move to China.
Everton's Romelu Lukaku is one player on the Blues' transfer shortlist, as is Torino forward Andrea Belotti.
But Italian newspaper Tuttosport claim the Stamford Bridge club have been dealt a major blow in their pursuit of the Serie A star.
Tuttosport claim Torino want £85m up front for Andrea Belotti
The report says Chelsea made a stunning £85m offer to Torino which they have rejected.
The bid was said to consist of a £51m initial fee with a further £34m in performance-based bonuses.
However, the Italian club are said to want £85m up front for Belotti – matching his buy-out clause.
Andrea Belotti earned his first Italy cap last September
The 23-year-old penned a new deal with Torino in December which included the staggering £85m release fee.
Belotti has been in fine form for the Turin-based club this season and is the joint top-scorer in Serie A with 24 goals in 28 appearances.
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He has seven caps for Italy, being called up to the squad in September last year, and has scored three goals.
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Earlier this month, Torino president Urbano Cairo claimed the club were not keen to sell Belotti but could have their hand forced if his release clause is met.
"Everything depends on Belotti, he could say no to a farewell and our relationship with him is wonderful," Cairo said.
"But then if they offer €100m (£85m) from abroad he could leave.
"I think we can continue a bit longer together."