The Brazilian is one of the most in-demand players on the market this summer with Arsenal keen and Barcelona also chasing his signature.
While the La Liga giants had been struggling financially of late, a cash injection of £179m could help their cause, with the 25-year-old thought to prefer the idea a move to Spain.
Raphinha has long since hoped for a Barcelona move this summer, but Chelsea have agreed a deal with Leeds that the Catalan giants are understood not to be able to match yet.
Chelsea are thought to continue to push to convince Raphinha to make the Stamford Bridge switch, with Barcelona forward Ousmane Dembele facing an anxious wait in the meantime.
Dembele’s Barcelona contract has now expired, and the France international has long hoped for Chelsea to step in with a big-money offer.
Dembele is thought to have an offer on the table from Barcelona, which he will be expected to sign if Raphinha is lured to Chelsea.
A deal for Manchester City’s England forward Raheem Sterling remains in the offing for Chelsea, with all parties thought to be confident of the move going through.
Additional reporting from PA
