However Manchester United have emerged as shock challengers to sign the French midfielder, with Jose Mourinho keen to add depth to his squad.
If Chelsea where to fail to sign a striker and lose out on Bakayoko their summer would surely be classified as a failure, especially if these players, like Lukaku, join title rivals Manchester United.
And Manchester United - who already won the race to sign Romelu Lukaku - might end up winning the race to sign the Frenchman as well.
Meanwhile, Chelsea's own move for Bakayoko, which had looked on the brink of completion earlier this week after lengthy negotiations and rumours of an upcoming medical, has apparently stalled.
Atthaya becomes youngest victor on European Tour
Atthaya admits she will not turn professional for a few years because she needs more experience. "My family do not play golf". She began the final day one shot behind Menendez, 25, facing the daunting task of keeping the finish line in sight.
According to The Sun, the Principality outfit are frustrated with the lack of intent from the Premier League holders, and this could put United in the pole position to land the midfield enforcer.
Bakayoko shone with Monaco last season and looks ready-made for the Premier League, with Mourinho seemingly ready to get one over his old club once again in dramatic fashion.
Manchester United are in the market for a new defensive midfielder to help release the shackles from Paul Pogba, and have been linked with a move for Bakayoko's Monaco teammate Fabinho as well as Spurs midfielder Eric Dier.
The Blues are not strangers to a last-minute transfer deal, having pulled off plenty of surprise swoops for players in the past.
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