Christopher Nkunku has verbally agreed to move to Bayern Munich, talkSPORT understands.
Nkunku targeted by German giants after falling down the pecking order Enzo Maresca.
It is understood that Chelsea value it at more than £60 million.
While the 27-year-old has scored 13 goals for the Blues this season, only two of them have come in the Premier League and he has started just three times in the competition.
A move to Bavaria has yet to be agreed but could pave the way for Mathys Tel to move to Chelsea.
The 19-year-old attacker is a long-term target for the Blues and, according to Jacobs, could be a perfect fit as a potential star of the future.
He told talkSPORT: “He can play on the left wing, move to the right or play as a more traditional striker and Chelsea liked the 19-year-old over the summer and are now reviewing the situation.
“You can see this through the prism of Chelsea, but you have to have the context that Bayern Munich I've been to Chelsea about Christopher Nkunku.
“They are serious and have a verbal agreement with the player.
“The approach to Chelsea has not yet reached an offer or any type of negotiation and Chelsea, when having that conversation, has said 'what about Tel?'.
“If they can get Tel then potentially Nkunku's exit will be much easier, but if they can't then talks about Nkunku may just turn out to be a separate transfer.
“Chelsea are being opportunistic here. “They are looking for someone who is versatile and young and they watched the player over the summer.”
Tel has found it difficult to get first-team opportunities this season and is yet to start a game or score a goal for Bayern in the Bundesliga or Champions League with Harry Kane ahead of him in the pecking order.
According to Jacobs, a move to Chelsea could also help the club given the uncertainty surrounding the suspended Mykhailo Mudryk.
Jacobs said: “He can play on the left wing and that could be very important if, for example, Mykhailo Mudryk's provisional suspension ends up becoming some sort of permanent suspension after his A sample tested positive for meldonium.
“So there is the possibility of two separate transfers: perhaps Tel to Chelsea and possibly Nkunku to Bayern.”
Chelsea are currently fourth in the Premier League table hoping to secure the Champions League next season.
The next match will be at home with Bournemouthbefore facing Wolves at home on Monday 20 January.