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| John Stones played a starring role in Everton's 3-0 win at Southampton on Saturday |
The Blues have earmarked the England international as their top summer transfer target but fear he could be snatched from under their noses.
After Jose Mourinho's side had two bids rejected by the Toffees already, the Mail on Sunday claim movements behind the scenes means Stones is far from certain to move to Stamford Bridge.
That's despite them preparing a third offer of £30million - a bid seen to be far closer to Everton's valuation.
The report suggests both Manchester clubs are quietly waiting in the wings, ready to pursue their own interests if the Merseyside outfit are seen to be willing to sell.
It is also understood City had planned a similar tactic with United target Sergio Ramos from Real Madrid.
The future of Stones, 21, has been the subject of fierce speculation for some time.
He played a starring role in his side's 3-0 win over Southampton at St Mary's on Saturday.
But the club may be willing to part with one of their prized assets if they can find a replacement.
They remain interested in £8m-rated Argentina defender Ramiro Funes Mori from River Plate, although manager Roberto Martinez denies he would be a direct replacement for any outgoing players.
However, they could be more inclined to sell if Stones makes it clear he wants to leave Goodison Park.
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