The Blues are being linked with the signing of a winger in the summer, such as Nico Williams from Athletic Club.
As for Hutchinson, the 20-year-old winger played 44 times for Ipwsich as they gained promotion to the Premier League from the Championship this term.
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Football.london states that the Blues are still contemplating what to do with the attacker.
Hutchinson could be sent out on loan again, he could be sold, or he may be integrated into the first team.
Bringing him back would also solve the issue of having to add another expensive winger to the squad.