Cesc Fàbregas's Como have registered interest in Chalobah, but the significant gap between the Serie A club's budget and Chelsea's asking price makes a deal difficult to envisage, according to transfer reporter Fabrizio Romano.
Como, who finish next season in the Champions League after finishing fourth in their debut Serie A campaign, are looking to substantially strengthen their squad. Chalobah has been placed on their shortlist at centre-back.
The problem is Chelsea's valuation. The Blues have set a substantial asking price for the 26-year-old England international, who made 34 Premier League appearances last season and was called into Thomas Tuchel's World Cup squad following an injury to right-back Tino Livramento. Transfermarkt values Chalobah at €40 million.
Chelsea themselves have been in two minds about selling the defender, who was the most consistent performer at the back last season. Contract extension talks were opened in May, with Chalobah under contract until 2028 and a club option for a further year beyond that.
Chalobah came through the Chelsea academy and has spent the vast majority of his career at Stamford Bridge. Aside from loan spells at Ipswich Town, Lorient, Huddersfield, Nottingham Forest and Crystal Palace, he has always returned to the west London club.
Como are understood to be operating with caution in this window following significant recent investment and are unlikely to meet Chelsea's price. Romano's reporting suggests they continue to monitor the market for defensive options without committing to a formal bid.