Chelsea feel that Swansea are considering lowering their demands for forward Fernando Llorente.
The 32-year-old is keen on a switch to Stamford Bridge, as he was in January when Antonio Conte looked to acquire him on loan.
Swansea initially quoted as much as £30m, but now the Welsh club are looking at Wilfried Bony, Chelsea think they might accept £15m.
The two clubs are on good terms following the loan of Tammy Abraham to Swansea, while their manager Paul Clement used to be assistant manager of the Blues.
Conte wants Llorente to act as a back-up to Morata, which could raise doubts over Michy Batshuayi's future once again should the former arrive.
Meanwhile, Chelsea are still optimistic that they will agree a fee with Leicester for midfielder Danny Drinkwater.
