Atletico Madrid are set to initiate formal discussions with the Blues to sign the star left-back, according to reports.
The Spanish outfit are understood to have identified the versatile defender as a primary reinforcement priority for manager Diego Simeone.
Boardroom figures in Madrid are said to be eager to conclude a swift deal but are reportedly determined to pay under €50m, which converts to roughly £43.2m, for his services.
After a tough start to life in West London Cucurella slowly began to prove naysayers wrong since his second year at the club following a transfer deal potentially rising to £63m.
While the wide defender began to find his feet under Mauricio Pochettino it was under the management of Enzo Maresca that he truly flourished.
Maresca harnessed the defender’s box-crashing tendencies to make him a goal threat in the 2024-25 season, highlighted by the full-back scoring seven goals in all competitions.
Cucurella was vocal after Maresca’s departure, hinting at his desire to explore a move away this summer.
The Stamford Bridge hierarchy are not entirely ruling out a permanent sale despite the full-back’s contract running until June 2029.
Negotiations are expected to intensify as the La Liga outfit look to secure their defensive targets early in the window.
The 27-year-old defender is currently away on international duty with Spain ahead of their opening World Cup fixture against Cape Verde.
Cucurella has recently attempted to downplay the mounting transfer speculation by declaring his complete happiness with life in London.
Should Atletico successfully find a financial compromise with Chelsea it would force the Blues to accelerate plans for replacements such as Jorrel Hato or Valentin Barco.
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