Last summer, the Blues committed to a deal that could reach £25m in order to acquire the Spain international from Brighton & Hove Albion.
The initial intention had been for Sanchez to act as backup to Kepa Arrizabalaga until the number one made the loan switch to Real Madrid ahead of the first game of the season.
Sanchez was subsequently thrown into the team and made 21 appearances in all competitions before a knee injury led to a spell on the sidelines, subsequently allowing Djordje Petrovic an opportunity in his place.
Petrovic has since established himself as first choice under Mauricio Pochettino, Sanchez having made just two outings in the FA Cup during 2024.
While Sanchez is now backup once again, the 26-year-old holds a contract at Stamford Bridge until 2030, creating a scenario where it may not be easy to part ways with him should they so wish.
Chelsea eye potential alternative to Sanchez
Nevertheless, that has allegedly not stopped Chelsea's recruitment team from assessing their options ahead of the summer transfer window.
According to a report in AS, Atletico Madrid are open to cashing in on Jan Oblak ahead of 2024-25, with Fichajes adding that Chelsea would be interested in negotiating a deal.
Unlike in previous years when Atletico had held a firm stance over Oblak, who has often been regarded as one of the best goalkeepers in the world, it appears that the Spanish giants would be prepared to facilitate a sale after the end of the season.
Oblak has now reached the age of 31 and, although he possesses a contract until 2028, his valuation will subsequently decrease every year that he remains in the Spanish capital.
The report indicates that Atletico are attracted to the route of signing a younger alternative if possible, yet that is something that may first require them to generate a substantial fee for the long-serving Slovenian.
Could Chelsea realistically move for Oblak?
If the price is right, signing Oblak could prove to be a shrewd move for Chelsea, even if they do already have an array of goalkeepers on their books.
As well as Petrovic and Sanchez, Arrizabalaga will return in the summer, albeit likely ahead of a transfer elsewhere, while young American stopper Gabriel Slonina is regarded as a future option.
Oblak is 31 years of age and the Slovenia national team captain, so his experience would be a welcome addition to a Chelsea dressing room that is about to see Thiago Silva move elsewhere.
A transfer fee could prove to be an issue but if Chelsea can cash in on Arrizabalaga and find a loan agreement for Sanchez, any transfer may largely pay for itself.