Chelsea are “prepared to give up” on signing Atletico Madrid goalkeeper Jan Oblak this summer after it emerged that the Spanish club will not lower their £110m asking price, according to the Daily Star.

It was thought that Atletico’s exit from the Champions League would have triggered the start of negotiations between the Blues and Atletico over a possible transfer.

Chelsea reportedly believed that Oblak would have been open to moving to Stamford Bridge but Atletico’s refusal to accept a lower fee for the Slovenian means any deal is unlikely.

The Blues were considering offering current number one Kepa Arrizabalaga in exchange to bring down the cost of the transfer, but Atletico are not interested in signing the Spaniard.

It appears Frank Lampard’s side will now move on to cheaper alternatives, with Manchester United’s Dean Henderson, Ajax’s Andre Onana, Lille’s Mike Maignan and Burnley’s Nick Pope the likeliest keepers to be targeted.