Chelsea plan shock swap deal involving club captain Reece James for La Liga superstar wanted by Liverpool - Reports

Chelsea are reportedly considering a swap deal involving Reece James and Real Madrid superstar Federico Valverde who has been in Liverpool's sights.

According to reports from Spain (via TEAMTalk), the Blues are weighing up offering James to Madrid in exchange for Valverde. The England international is regarded as one of the best in his position in Europe, bagging 11 goals and 20 assists in 148 games across competitions.

Los Blancos could soon be on the lookout for a new right-back with Dani Carvajal, 31, and Lucas Vazquez, 32, in the twilight of their careers. However, James, 23, has run into injury problems during his time at Chelsea. He has made just one appearance this season due to a hamstring injury.

Still, James could be the long-term successor to Carvajal at the Santiago Bernabeu and has admirers within Madrid's camp. Vinicius Junior deems him as one of the toughest opponents he's faced during his career.

Meanwhile, Valverde is currently contending with an array of talented midfielders in Carlo Ancelotti's squad for a starting berth. The La Liga giants boast the likes of Jude Bellingham, Aurelien Tchouameni, Eduardo Camavinga, Toni Kroos, Luka Modric, Brahim Diaz, and Dani Ceballos.

The 25-year-old has been handed a starting role this season and has managed one goal in six games across competitions. However, he could soon be looking over his shoulder if, for example, Diaz pushes for a place in Ancelotti's starting XI.

It's claimed that Madrid would consider selling Valverde if a suitable offer is made. He is currently valued at around €80 million (£69.4 million) but Chelsea may look to offer James in a straight swap instead.

That could come at the expense of Liverpool who are known admirers of the versatile attacking midfielder. The Uruguay international reportedly emerged as a top target for the Reds in the summer amid their midfield overhaul.

However, Valverde remained at the Bernabeu with Jurgen Klopp signing the likes of Alexis Mac Allister, Dominik Szoboszlai, Wataru Endo, and Ryan Gravenberch. The German coach may consider reigning interest if Madrid are open to letting him go.

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Federico Valverde claims he's happy at Real Madrid despite interest from Chelsea and Liverpool

Fede Valverde isn't considering a departure despite Chelsea and Liverpool's interest.

Valverde has touched on interest from the Premier League with Chelsea and Liverpool lingering in the background. He insists he's happy at Madrid and believes he has a role to play in Ancelotti's side (via transfer expert Fabrizio Romano):

"Premier League offers? I have the ability to play for Real. The day I don't feel like that, I'm probably going to look for another solution or Real itself will look for one for me".

Valverde arrived at the Bernabeu from Uruguayan outfit Penarol in 2018 for a mere €5 million. The attacking midfielder has bagged 19 goals and 15 assists in 210 games across competitions since then. He has won the UEFA Champions League, two La Liga titles, the Copa del Rey, two FIFA Club World Cups and two Spanish Super Cups.

However, he may be given a more protagonistic role at either Chelsea or Liverpool than he has at Madrid. He is vying with the likes of Vinicius Junior and Bellingham for that role currently at the Bernabeu.

Luis Suarez once compared his compatriot Valverde to his former Liverpool teammate Steven Gerrard. It could be that he becomes a hero at Anfield should the Reds decide to make a move for him in the future.