Bayern Munich have returned with a new offer worth £30m plus add-ons as they step up their attempt to sign Callum Hudson-Odoi from Chelsea.

The German champions have identified the 18-year-old England youth international as one of their primary targets in the January transfer window. Hudson-Odoi has less than 18 months remaining on his current contract and has refused to negotiate a new deal with Chelsea as he weighs up his options, with Bayern already having bids of £15m and £20m rejected.

After Chelsea announced the £58m purchase of Christian Pulisic from Borussia Dortmund on Wednesday, Bayern have returned with a third offer that could make Hudson-Odoi the most expensive English teenager in history, eclipsing the £30m Manchester United spent on Luke Shaw in 2014. The bid remains under consideration, with Chelsea seriously considering selling a player who first joined the club as a seven-year-old despite the manager, Maurizio Sarri, stating this week he has the potential to become one of the best players in Europe.

While Chelsea hope they can still persuade him to commit to a new five-year contract offered last summer, it is understood that Hudson-Odoi is keen to establish himself as a first-team player at a time when his former England Under-17 teammates Jadon Sancho and Reiss Nelson have benefited from their moves to Germany. Sancho, who made his full England debut in October against Croatia, has become a key member of Dortmund’s side, while Nelson has scored six league goals while on loan at Hoffenheim from Arsenal.

The Fiver: sign up and get our daily football email.

Dortmund and RB Leipzig have also expressed an interest in Hudson-Odoi but the player would prefer to join the club that has won the past six Bundesliga titles, although Bayern are six points behind Dortmund in this season’s title race. He has made six Premier League appearances this season but the arrival of Pulisic in the summer – the USA international has been loaned back to Dortmund for the remainder of the campaign – could further obstruct his path to regular action.

Cesc Fàbregas, meanwhile, looks likely to complete his transfer to Monaco next week in a move that will reunite him with his former Arsenal teammate Thierry Henry.