Chelsea are plotting a move for AC Milan midfielder Stephan El Shaarawy after Jose Mourinho reportedly placed him on his shortlist, The Express reports.

The 20-year-old struck up a good understand with Mario Balotelli last term, and is one of the Rossoneri's prized assets.

The precocious Italian has been chased by a whole host of top European clubs including Paris Saint-Germain, Real Madrid, Arsenal, Manchester City and Monaco.

Though Manchester City and Arsenal have since cooled their interest in El Shaarawy, Bluesboss Jose Mourinho has identified him as a transfer target.

Sources in Italy convey that El Shaarawy could be available for around £30m.

It is also understood that AC Milan president Adriano Galliani will sit down for talks with the player to discuss his San Siro future.

In another development, Chelsea are considering an audacious swap deal that would see Fernando Torres join AC Milan and Italy starlet Stephan El Shaarawy head in the opposite direction, Talk Sport reports.

Returning Blues boss Jose Mourinho is anxious to land a world class centre-forward despite Torres' recent revival - the club's record signing netted 22 times last term and recently finished top scorer at the Confederations Cup in Brazil.

The Portuguese's main target is Napoli hitman Edinson Cavani, but Chelsea are yet to meet the Italian club's asking price.