Inter Milan are demanding at least €120 million (£102.5million) from Chelsea for Romelu Lukaku, Tuttosport reports.
Lukaku, 28, has been heavily linked with a move to Chelsea this summer transfer.
Chelsea are in the market for a new striker and have identified Dortmund’s Erling Haaland as their top target, while Lukaku is also on their shortlist.
The Champions League holders had hoped that a deal for Lukaku would be more feasible given Inter Milan’s need to balance their finances before the transfer window ends.
Inter Milan are also keen to retain their top players, having sold Achraf Hakimi in a €71m (£60.7m) deal to PSG earlier this month.
The report added that Chelsea would need to submit an offer of at least €120m (£102.5m) in order to tempt the Serie A champions into agreeing to a sale.
Lukaku joined Inter Milan from Manchester United for £74m in 2020.
The Belgium international has scored 64 goals in 95 appearances for Inter and played a key role in their Serie A title win last season.