The Blues were heavily linked with Victor Osimhen before the transfer deadline, but the Nigerian star refused to accept a pay-cut to join them.
Nicolas Jackson and Christopher Nkunku have benefitted from the same. The duo have scored almost 20 goals between themselves, but the club want an upgrade.
Gyokeres has been closely watched for a number of months and they are prepared to compete with the Gunners and Red Devils for his services.
The Swede has been in exemplary form for Sporting since his arrival last year. He has netted 23 goals from just 17 appearances in the current season.
He has a release clause worth £83m in his contract with Sporting, but reports claim that the club are prepared to sanction his sale for £63m.
Chelsea may need to qualify for the Champions League next season in order to boost their chances of signing the 26-year-old marksman.
