The Sun reports sources close to the negotiations say Chelsea have been building a picture of Camara's wage demands and personal circumstances for several days, though the Blues are far from alone in the chase.
Liverpool are also interested and, unlike Chelsea, can offer the Senegal international Champions League football, while Crystal Palace have already seen a bid rejected by Monaco earlier in the summer.
Monaco's own valuation of the midfielder has moved during the process, with figures reported anywhere between roughly €50m and €60m depending on the outlet, and the club's managing director, Thiago Scuro, said to be working to get any deal finalised quickly.
Camara made 24 Ligue 1 appearances for Monaco last season, scoring three goals and adding three assists, and has already completed three full seasons of French top-flight football since arriving from Metz in 2024.
He is closing in on 50 caps for Senegal despite being born in 2004, and impressed for his country at this summer's World Cup, where his combination of athleticism and defensive screening drew comparisons to a more mobile version of Fernández himself.
The move would only become necessary for Chelsea if they sell Fernández, with Enzo Maresca having made the Argentine his top midfield target as Manchester City look to strengthen following the sale of Rodri to Barcelona.
Manchester City missed the £120m deadline Chelsea had set them for Fernández earlier this month, but Stamford Bridge remain prepared to sell for the right price, with the pursuit of Camara offering a route to reinvest quickly should that happen before Tuesday's deadline.
Chelsea are understood to be one of four clubs on Camara's radar, alongside Liverpool, Palace and Manchester United, in what is shaping up to be one of the more contested late battles of the window.e window.