Christopher Nkunku has verbally agreed a move to Bayern Munich, talkSPORT understands.
Nkunku is a target for the German giants after falling down the pecking order under Enzo Maresca.
It’s understood that Chelsea value him in excess of £60million.
While the 27-year-old has scored 13 goals for the Blues this term, just two of those have come in the Premier League having started just three times in the competition.
A move to Bavaria is not yet agreed, but it could pave the way for Mathys Tel to move to Chelsea.
The 19-year-old attacker is a long-term target for the Blues and according to Jacobs, could fit the bill as a potential star of the future.
He told talkSPORT: “He can play left wing, can move to the right or can play as a more traditional striker and Chelsea liked the 19-year-old over the summer and are now revisiting the situation.
“You can look at this through the prism of Chelsea but you have to have the context that Bayern Munich have gone to Chelsea about Christopher Nkunku.
“They are serious and have a verbal agreement with the player.
“The approach to Chelsea hasn’t yet reached a bid or any kind of negotiations and Chelsea, upon having that conversation, have said ‘what about Tel’.
“If they can get Tel then potentially an exit for Nkunku will be a whole lot smoother, but if they can’t then the Nkunku conversations may just prove to be a separate transfer.
“Chelsea are being opportunistic here. They’re in the market for someone who is versatile and young and looked at the player over the summer.”
Tel has found first team opportunities hard to come by this season and is yet to start a game or score a goal for Bayern in the Bundesliga or Champions League with Harry Kane ahead of him in the pecking order.
According to Jacobs, a move to Chelsea could also aid the club given the uncertainty around the suspended Mykhailo Mudryk.
Jacobs said: “He can play on the left wing and that might be very important if, for example, Mykhailo Mudryk’s provisional suspension ends up becoming some kind of permanent ban after his A sample tested positive for meldonium.
“So this is a possibility of two separate transfers – maybe Tel to Chelsea and possibly Nkunku to Bayern.”
Chelsea currently sit fourth in the Premier League table with hopes of securing Champions League football next term.
Next up is a home clash with Bournemouth, before facing Wolves at home on Monday, January 20.