According to Fabrizio Romano, Como's latest proposal was worth €25 million in guaranteed fees plus a further €5 million in bonuses, taking the total package close to €30 million. Chelsea rejected the offer and have since raised their valuation further, with reports in England putting the current asking price at closer to €35-40 million as the club looks to maximise any sale.
Inter Milan had also been credited with an interest in Chalobah earlier in the window, but the Serie A giants appear to have shifted their attention towards Tottenham's Cristian Romero instead, leaving Como as the only club to have made a concrete move.
Cesc Fábregas's side, preparing for their first-ever Champions League campaign, have already returned with one improved bid after their opening offer was rejected and are expected to consider whether to come back again.
Chalobah remains keen on a move to Serie A and is likely to leave Chelsea before the summer window closes, despite the gap between the two clubs' valuations. His contract at Stamford Bridge runs until the summer of 2028, with an option for a further year, giving Chelsea some leverage in the negotiations even as the player pushes for a change of scenery.
The centre-back made 34 Premier League appearances last season, 31 of them starts, and scored three goals as he established himself as a regular under Chelsea's rotation policy. He also featured for England at this summer's World Cup, further boosting his profile among potential suitors even as his club future remains unresolved.
A Chelsea academy graduate, Chalobah previously spent time on loan at Crystal Palace before returning to become a regular fixture in the club's defence. Chelsea's willingness to sell reflects the club's broader plans to reshape their backline, with the arrival of Maxence Lacroix from Crystal Palace already reducing his path to regular minutes.