The Telegraph understands that Chelsea have turned down a £75m bid from Chinese side Jiangsu Suning for Oscar.
The news comes weeks after the same side signed fellow Brazil international Ramires from the Blues, and amidst a hub of transfer activity from the Asian division.
The league’s transfer record has been broken five times this season and the potential deal for Oscar was worth more than what Suning paid for Alex Teixeira this week.
Oscar moved to Stamford Bridge in the summer of 2012 and has so far racked up one hundred and seventy-nine appearances for the club, scoring thirty-eight goals – three of which came in his sides 5-1 win over MK Dons in the fourth round of the FA Cup last weekend.
Having been held to a goalless draw by Watford on Wednesday, Guus Hiddink’s side are now sixteen points off the top four.
They host Manchester United on Sunday afternoon and the home win can be backed at 23/20.