The French international was linked with the Estadio Ramòn Sanchez Pizjuàn prior to his 2017 switch to the Blues from AS Monaco.
However, despite an impressive first season at Stamford Bridge, he has spent the last two seasons on loan at AC Milan and former side Monaco.
Bakayoko is available for transfer this summer, with Frank Lampard unlikely to reintroduce him into the first team for the 2020-21 season.
However, the Premier League side are aiming to recoup the majority of the €40m they paid for him two and a half years ago.