Milinkovic-Savic has been heavily linked to Man United in the past and was reportedly ready to sign last summer if Paul Pogba departed for Real Madrid.
However, no bid for Pogba was forthcoming and the Frenchman remained at Old Trafford for another season.
Pogba has spent much of the season on the sidelines due to injury, only playing eight games for United, and appears likely to depart in the summer.
According to Il Messaggero (via the Metro), the Serbian's performances have convinced United that he's still the best option to replace Pogba.
Lazio are said to value Milinkovic-Savic at £109m and will be even harder to negotiate with should they secure Champions League football as expected.
The Blues coach was believed to see Milinkovic-Savic as his ideal first signing in January following the removal of their transfer ban.
It's thought that Chelsea will keep tabs on Milinkovic-Savic with a view to a possible bid come summer.
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