Chelsea have formally lowered their asking price for the 27-year-old to €30 million plus bonuses, but the two clubs remain far apart on substance.
During the meeting it emerged that the €5 million in add-ons Chelsea want included are tied to easily achievable targets, meaning their overall demand of €35 million has barely moved despite the apparent reduction in the headline fee.
Como, whose own offer had reached around €25 million, are unwilling to accept bonus conditions that in practice guarantee Chelsea close to their original valuation.
With the gap between the two parties still considerable, it appears unlikely Chalobah will complete a move to Lake Como in the short term. The Italian club remain on standby to assess the situation, but are aware that without a softening in Chelsea's conditions, talks are unlikely to reopen in any meaningful way.
Como had appeared to have moved into pole position for the centre-back after Inter Milan's earlier interest cooled, but the stalemate over bonus structures now threatens to leave that opportunity unresolved as the transfer window continues.
Chalobah made 34 Premier League appearances last season, scoring three goals, and earned a place in England's World Cup squad under Thomas Tuchel, though he featured for only a handful of minutes as a substitute in the semi-final defeat to Argentina. His contract at Stamford Bridge runs until 2028, giving Chelsea little pressure to compromise on their valuation even as Como continue to push for a deal.
The bonus structure has become the defining sticking point of the negotiation, illustrating how far apart the two clubs remain even after Chelsea's apparent concession on the headline fee.
Cesc Fábregas, preparing Como for their first-ever Champions League campaign, has made clear he sees Chalobah as a priority addition to strengthen the defence, but the club's hierarchy appear unwilling to agree to bonus terms that would effectively commit them to Chelsea's full original asking price regardless of how the transfer is structured on paper.
Unless one side moves further, Como may be forced to explore alternative targets at centre-back before the market closes.