Spanish newspaper Mundo Deportivo report that Barcelona can not afford to pay so much for Willian, so the club have proposed a player-plus-cash swap deal instead.
It comes after Loftus-Cheek, who spent last season on loan at Crystal Palace, made it clear he wants to continue playing regularly.
The situation has alerted Barcelona with reports suggesting the La Liga champions have already seen a £50m bid rejected but TeamTalk are citing a report from the Express that claims Man Utd are now ready to make a big offer of their own.
The Stamford Bridge are said to have turned down a £50 million bid from Spanish League champions Barcelona.
Chattanooga woman identified as victim in Bahamas boat explosion
Passengers on the nearby boat can be heard screaming while others are seen wading towards the flaming ship with flotation devices. One American tourist was killed in the explosion, while two others are said to be in critical condition at a Bahamian hospital.
Saudi king agreed to raise oil output up to 2m barrels
In briefings since then, Opec officials have signaled the extra volume is likely to be in the range of 700,000 to 1 million bpd. Iran's rial currency has lost up to 40 per cent of its value since last month, when Trump pulled out of the 2015 nuclear deal .
Missing boys soccer team found alive in Thailand cave
Osatanakorn told reporters Monday that progress had been made in opening and maintaining the narrow channels used by rescuers. There were jubilant scenes outside the cave as overjoyed relatives hugged and cheered upon hearing that the boys are alive.