Martin Caceres.

Chelsea are reported to have lodged a bid for Uruguay international Martin Caceres.

The 20-year-old central defender is currently on a season-long loan at Recreativo from Villarreal, who he signed for last year after impressing at the World Youth Cup.

And his performances for Recreativo have attracted interest from some of the continent's biggest hitters.

Real Madrid made an enquiry for him, but Chelsea owner Roman Abramovich is now reported to have stepped in with a 10million euro (£7.6million) bid - though that was apparently rejected.

Caceres' buy-out clause stands at 20million euros (£15.2million) which neither Chelsea or Real are likely to go to - but the English side have not given up.

It is claimed Villarreal's sporting director Jose Manuel Llaneza flew to London earlier this month for talks with Abramovich, when the initial bid was lodged.

Villarreal have now left the ball firmly in Chelsea's court and although they are willing to talk, they are more than happy with their valuation of the player.

Indeed Villarreal, who are well placed to return to the Champions League next season, could introduce Caceres to their own first-team squad next term.

Both Chelsea and Real are now looking closely at the situation with Spanish sources claiming both should mount bids close to 15million euros in the coming weeks, though it remains to be seen if Villarreal will accept or not.