The Daily Telegraph, as quoted by Metro, is reporting that the Blues will be able to sign players who are on loan at the club on permanent deals even if they fail to overturn their two-window transfer ban from Fifa.
That would mean that the Blues would be able to wrap up deals for Kovacic and Gonzalo Higuain if they so wished.
The same story says that Chelsea FC are keen to sign Kovacic from Real Madrid permanently after Ruben Loftus-Cheek suffered an Achilles injury that is likely to rule him out of the start of next season.
Kovavic joined the Blues last summer on a season-long loan deal and the 25-year-old made two assists in 32 Premier League games for the west London club.
The same article says that Chelsea FC would need to negotiate a fee with Real Madrid to secure the transfer of Kovacic on a permanent basis.
Meanwhile, the Blues are currently preparing for their Europa League final showdown against Arsenal in Baku on 29 May as they look to end the campaign on a high by winning a trophy.
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