Chelsea are reportedly keen to appoint a new boss within the next two weeks, but Tottenham will demand £15million if they want Harry Redknapp.
Guus Hiddink, who led the Blues to FA Cup glory in 2009, is still understood to be Stamford Bridge supremo Roman Abramovich's top target.
However, the Dutchman is stalling on discussions as he remains hopeful of leading Turkey to next summer's Euro 2012 finals.
According to The People, Chelsea owner Abramovich still wants to appoint failed West Ham boss Avram Grant as director of football at the Bridge.
And the Israeli is said to be keen to work with Redknapp again, having previously assisted him at Portsmouth.
Yet Spurs chairman Daniel Levy, having held out for a high compensation fee when Chelsea poached sporting director Frank Arnesen from White Hart Lane, intends to make Abramovich pay big again if Redknapp is to move across the capital.
The 'transfer fee' could be as high as £15million, and all eyes are now on Brussels, where Turkey face Belgium in a Euro 2012 qualifying Group A fixture on Friday that could determine Hiddink's future.