Chelsea wants £65 million for Nicolas Jackson. That’s more than double what they paid for the Senegalese striker just two years ago. Tottenham Hotspur is reportedly interested, though they haven’t put formal money on the table yet.

Here’s what we know. Tottenham has expressed interest in signing the 25-year-old forward but hasn’t submitted an official bid to Chelsea. The Blues, now managed by Xabi Alonso, have reportedly set their asking price at approximately £65 million and are open to selling during the current transfer window.

Jackson originally joined Chelsea from Villarreal in June 2023 for around £30 million. He then extended his contract through 2033 in 2024, a move that gave Chelsea enormous leverage in any future negotiations.

A loan move to Bayern Munich materialized during the 2025 season, structured as a deal worth up to £70 million with a £56.2 million buy obligation baked in. Bayern never pulled the trigger. The loan collapsed due to issues related to injury and insufficient appearances, sending Jackson back to Chelsea without a permanent move.

Tottenham isn’t the only suitor circling. Aston Villa has also inquired about Jackson, with manager Unai Emery having a prior working relationship with the striker from their shared time at Villarreal.

Chelsea’s strategy with Jackson is essentially a buy-low, sell-high play. They acquired an asset at £30 million, locked it into a long-term contract to maximize control, and are now marketing it at a 117% premium. The contract extension to 2033 wasn’t about keeping Jackson forever. It was about ensuring Chelsea holds all the cards whenever a buyer comes calling.

The failed Bayern Munich loan adds another layer. That deal was structured with a £56.2 million buy obligation that collapsed when conditions weren’t met. Bayern walked away, Chelsea retained the asset, and now they’re relisting it on the open market.