New Blues chief Jose Mourinho is believed to be keen on the former Stamford Bridge youngster, who has excelled since leaving the club to join Benfica as a part of David Luiz’s transfer in 2011.
After helping the Lisbon giants reach the Europa League final and narrowly miss out on the Portuguese league title last season, the young Serbian is widely believed to be one of the finest midfield talents in the continent.
This had alerted Chelsea, but now Real are in the race with Carlo Ancelotti – a former manager in west London – having made the 24-year-old one his top targets.
The Spanish giants have a good working relationship with Benfica, having sold Ezequiel Garay to, and purchased Fabio Coentrao, from them in the past.
Chelsea themselves have crossed paths with the Estadio da Luz-based side, but it is rumoured that they would rather do business with Real.
However, neither club are willing to match the £45m price tag that he been placed on Matic, and are seeking to do a deal for a much lower fee.
Chelsea fans, was it a mistake to sell Nemanja Matic? And would you welcome him back?
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