Chelsea are preparing an offer for AC Milan fullback Theo Hernandez, according to TodoFichajes.com. The Spanish website claims the Blues see the Spaniard as an “affordable signing.”

Hernandez only joined Milan from Real Madrid for €20m last July but they are reportedly looking to double their money on the player this summer, as they look to balance the club’s books.

The Frenchman has been linked with the likes of Barcelona, Paris Saint-Germain and Manchester City in recent days but Chelsea are also said to be looking to sign a new left-back at the end of the season.

Neither Marcos Alonso nor Emerson Palmieri have convinced manager Frank Lampard, and the London club have been looking at the likes of Ben Chilwell, David Alaba and Alex Telles as possible replacements.

Hernandez would likely be cheaper than most of those options at €40m (£35m) and with Milan struggling financially, the Blues could well get the 22-year-old even cheaper.