Goal understands the Blues are keen to bring the £40 million-rated striker to Stamford Bridge, and the rumour mill moved into overdrive on Tuesday morning when the player was pictured on a flight to London.
It later materialised Dembele was in the capital to undergo a knee scan, with Celtic boss Brendan Rodgers reluctant to sell until the summer.
Taking to Instagram, Dembele himself posted a message: "What else?" accompanied by a picture of himself in a Celtic shirt, Leonardo Di Caprio in 'Wolf of Wall Street' and a series of green love hearts and shamrocks.
What else ? pic.twitter.com/Zp4IQRmjPH— Moussa Dembélé (@MDembele_10) January 31, 2017
Dembele's form since joining the Bhoys from Fulham in the summer has been superb, with the youngster having scored 20 goals in 38 appearances.