The Blues signed Bakayoko in a £40m deal from Ligue 1 side AS Monaco after the 23-year-old won the Ligue 1 title in 2016-17.
The defensive midfielder struggled to hold down a regular starting spot in the Chelsea FC team due to his inconsistent performances.
Chelsea FC have signed Italy international Jorginho in a £57m deal from Serie A side Napoli to further bolster their midfield.
Jorginho’s arrival could cast doubt over the future of Bakayoko and Cesc Fabregas moving forward under Maurizio Sarri.
AC Milan have been linked with a move to sign Bakayoko from Chelsea FC in the current transfer window.
Sky Sports News reporter Sheth believes AC Milan will struggle to afford Bakayoko’s price tag.
“Our colleagues in Italy are reporting AC Milan are keen on Chelsea midfielder Tiemoue Bakayoko,” Sheth told the Transfer Talk podcast.
“This would be very difficult to get over the line.”
Chelsea FC have won the Premier League title twice in the past four seasons under Jose Mourinho and Antonio Conte.
The Blues finished in fifth spot in the Premier League table last term to miss out on a Champions League spot.
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