AC Milan are reportedly insistent that they are not prepared to offer centre-back Alessio Romagnoli to Chelsea in exchange for Cesc Fabregas.

According to Corriere dello Sport (via Calciomercato.com), the Serie A giants have been eyeing Fabregas for some time, and Milan representatives Marco Fassone and Massimiliano Mirabelli were at Stamford Bridge to watch Chelsea beat Leicester City 3-0 on Saturday.

The report added, though, that despite their interest in the 29-year-old Spanish midfielder, Milan will not entertain the idea of a player-plus-cash deal that would see Romagnoli, 21, move to Chelsea in exchange for Fabregas.

Per the Sun's John Hutchinson, Chelsea failed with a bid to sign Italy international Romagnoli in the summer but could be prepared to meet Milan's £49 million valuation of the youngster in January.

As noted by Bleacher Report's Dean Jones, Chelsea's key issues under new manager Antonio Conte this season have been due to poor defensive recruitment in the summer:

The re-signing of David Luiz has done little to solve Chelsea's centre-back problems, and although Conte's recent switch to a three-man defence has improved things, the Blues' back line is still weak.

John Terry, 35, is potentially in his last season at the club, Gary Cahill has lost form dramatically, Luiz remains inconsistent and Kurt Zouma is sidelined with a long-term injury.

The 21-year-old Zouma is the future of Chelsea's defence, but the west London outfit still need more young talent, hence the interest in Romagnoli.

Using Fabregas as a makeweight to tempt Milan into selling the Italian makes sense, as the former Arsenal man has not been a huge part of Conte's side so far in 2016-17—he has started only one Premier League game.

However, while Milan appear to be interested in Fabregas, they are clearly not so desperate to sign him that they would allow one of their key defenders to move the other way.

Indeed, Rossoneri manager Vincenzo Montella recently ruled Fabregas out as a potential January target for Milan to cover for long-term injured Riccardo Montolivo, per Corriere della Sera (via Sky Sports' Richard Morgan).

If Chelsea are intent on signing Romagnoli, it seems they will need to make a huge cash offer for the centre-back to tempt Milan.