Seems to be quite the buzz on twitter, but it also may be completely unreliable. Possible Meireles+Cash swap?

via media.ftbpro.com

Football.co.uk: Luka Modric's £35 million move from Tottenham to Real Madrid has been thrown into doubt after last minute interest from European Champions Chelsea. Reports in Spain suggest that the Croatian playmaker was prepared to sign for the Spanish Champions, but has become frustrated at the ongoing delays.

Chelsea boss, Roberto Di Matteo, has been made aware of the hold up and is said to be waiting in the wings should the move fall through. Daniel Levy and Andre Villas-Boas are unlikely to want to sell their star midfielder to a Premier League rival, but as the sale of Robin van Persie to Manchester United has shown, anything is possible.

http://www.football.co.uk/chelsea/chelsea_interest_holds_up_modric_madrid_move_rss3456917.shtml