Chelsea could offload Alvaro Morata to Inter Milan this summer in a high-profile part-exchange deal that would see fellow striker Mauro Icardi move to Stamford Bridge, the latest speculation suggests.

According to reports from Spanish radio station Cadena Ser and also Rome-based Italian newspaper Il Messaggero, the FA Cup winners are willing to offer between €35-40million plus Morata in a bid to tempt the Nerazzurri into parting with Icardi.

The Inter captain enjoyed a terrific 2017-18 campaign in Serie A, netting 29 goals in 34 appearances - including an important penalty in a dramatic final-day comeback win at Lazio - to finish alongside Ciro Immobile as the league's joint-top scorer and help Luciano Spalletti's fourth-place side seal a first return to the Champions League since 2012.

Chelsea are reportedly interested in signing striker Mauro Icardi, left, from Inter Milan

However, such an impressive season ultimately did not earn Icardi a place in Argentina's squad for the forthcoming World Cup, with head coach Jorge Sampaoli omitting the four-cap 25-year-old and instead selecting Paulo Dybala, Sergio Aguero and Gonzalo Higuain to feature alongside talisman Lionel Messi.

Morata will also play no part in Russia after being left out of Spain's final 23-man travelling party. In stark contrast to Icardi, the former Juventus favourite struggled to impose himself this term following a £70.6million summer transfer from Real Madrid to Chelsea.

After notching eight goals in his first nine appearances across all competitions, Morata later suffered from a lack of form and went 13 games without scoring as he battled through a persistent back injury.

Speculation from Italy and Spain suggests they are ready to offer Alvaro Morata in exchange

ICARDI VS MORATA - 2017-18 HEAD-TO-HEAD Icardi Appearances: 36 Goals: 29 Assists: 1 Honours: Capocannoniere (shared with Lazio's Ciro Immobile) Morata Appearances: 48 Goals: 15 Assists: 6 Honours: FA Cup Advertisement

A return to Italy looks to be a real possibility for the underwhelming forward, who earlier this week was spotted in conversation with Juventus sporting director Fabio Paratici outside the plush Hotel Palazzo Parigi in Milan.

AC Milan hoped to get a jump on the reigning champions by holding initial discussions over their own ambitious swoop, with the likes of Nikola Kalinic and Andre Silva among a raft of players expected to depart the San Siro over the coming weeks.

Atletico Madrid, Bayern Munich and Paris Saint-Germain have also been mentioned in connection with a move for Morata.

Meanwhile, Icardi's agent and wife Wanda Nara recently told Radio Metro that there were some 'big clubs' ready to meet the player's €110million (£96.5million) release clause, labelling the sum as not remarkable given his quality and the current high figures circulating in football.

However, she insisted that Inter remained his priority ahead of a meeting with sporting director Piero Ausilio.