The Blues are facing speculation surrounding their current number one Thibaut Courtois following his refusal to sign a new deal with the west London side.
Courtois has 12 months left to run on his current contract to raise the possibility of the Belgium international leaving on a free transfer next summer.
Chelsea FC are thought to be preparing for life without Courtois should Atletico Madrid or Real Madrid look to sign the Belgian in a cut-price deal.
The Blues have bene linked with a £65m bid to sign AS Roma shot stopper Alisson Becker but face competition from Liverpool FC and Real Madrid.
Schmeichel, whose father Peter was a legend at Manchester United, has been linked with a possible switch to Chelsea FC should Courtois quit Stamford Bridge.
Sky Sports News reporter Sheth shed light on Chelsea FC’s interest in Schmeichel.
“An alternative to all of this is Leicester City keeper Kasper Schmeichel,” Sheth told the Transfer Talk podcast.
“Interestingly hear we are told both Chelsea and Roma are looking at him because they’re preparing for life without their current No.1s.”
Chelsea FC finished in fifth place in the Premier League table last season to miss out on a Champions League spot.
The Blues won the FA Cup thanks to a 1-0 win over Manchester United.
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