Reports claim the Blues could allow Gallagher to leave for the right offer when the transfer window re-opens, as they look to raise funds to strengthen their attack.
Gallagher has worn the captain's armband at times this season due to the absence of club skipper Reece James and despite not being there for the long haul.
Big-money deals for Moises Caicedo and Romeo Lavia seemingly spelled the end for Gallagher's time at his boyhood club, but injuries to both those players meant he not only got game time, but was made skipper.
He has stepped up this term with some impressive performances for Mauricio Pochettino's side, and there were even reports in October that Chelsea were expected to open talks over a new deal for the 23-year-old.
Gallagher has made 18 appearances in all competitions this season and has 18 months remaining on his current deal in west London.
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However, it is now claimed Chelsea are again ready to cash-in on the ace to help fund further transfers, with strikers Victor Osimhen and Ivan Toney said to be on the club's radar.
And according to talkSPORT sources, London rivals Tottenham are ready to pounce if Gallagher comes on the market again, having been close to signing him in the summer.
The former Crystal Palace loanee could become the latest young boyhood Blues star to be sold by Chelsea, following Mason Mount who left Stamford Bridge in the summer to join Manchester United for £60million.
An a homegrown player and academy graduate, any fee from his sale would be banked as 100 per cent profit and boost the club's coffers to strengthen the team while staying on the right side of Financial Fair Play.
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Selling Gallagher could take Chelsea's profits from selling homegrown players past the £200m mark, which has enabled them to spend big over the last few transfer windows without breaching FFP rules.