Newcastle are preparing a bid of around £60M this summer for Guehi who has been the centre of interest for a number of clubs who need a top centre back this summer including Liverpool and Manchester United.
Palace are understood to value the defender at £70M and do not want to lose him although if the right price comes in, they could replace him with Chalobah.
Chalobah has been told he can leave Chelsea this summer as they look to clear out a number of players who are not likely to start this season due to the club having over 40 players.
The 25-year-old is another academy graduate who could leave despite being reliable last season.
£25M is said to be Chelsea’s asking price with Fulham also interested as they look to replace Tosin Adarabioyo who joined the Blues for free this summer.
One club will have to make a move soon if this transfer saga wants to start as each club is relying on the other to make their bid and bring in what they need.