The highly-rated 19-year-old came through the youth ranks at Stamford Bridge but has found his chances limited.
He spent the latter part of last season on loan at Swansea City, but again found his first-team opportunities hard to come by.
Now it appears the Blues could be looking for him to move to the Championship, and Sky Sports understands a host of clubs are competing for his signature.
Among those are Wolves and Middlesbrough, who are both hopeful of landing the England Under-21 starlet.
It remains to be seen whether Roberto Di Matteo will allow him to go for the whole season or if he will limit the loan spell to a shorter stint.