The Spanish playmaker is believed to be surplus to requirements at the Nou Camp after a three year stint – his second at the club – with the Catalans set to make a number of changes in the coming months.
Fabregas is thought to be available for around £30m, which has alerted a host of Premier League clubs, with Manchester United, Arsenal and Chelsea leading the race.
But the latter are perhaps the most keen, and are ready to offer the World Cup winner a massive salary to ensure that he is wearing the blue shirt next term.
The Londoners’ interest is rumoured to have increased since they learned that Frank Lampard will not be committing himself to the club and will walk away when his contract expires in a few weeks’ time.
Fabregas is seen as an ideal replacement for the Stamford Bridge outfit’s record goalscorer, with Roman Abramovich willing to bankroll a substantial move to convince him to re-locate to Chelsea.
The player himself is believed to favour a move back to former club Arsenal or Manchester United, but the Blues are hopeful that the lure of a big contract will put them in the lead.