Chelsea have had a £78 million bid accepted for James Rodriguez by Real Madrid but the midfielder has rejected the chance to join Antonio Conte, according to reports.

Reports in the Confidencial Colombia claims that the Blues have shown their intentions to increase his  £10.4m-a-year but the 25-year-old turned down the chance after Real gave him the opportunity to decide whether he wanted to remain at the Santiago Bernabeu this January.

It is understood that Cristiano Ronaldo is one of the major reasons behind decision to remain at the Spanish capital with reports he advised him to fight for his place.

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Prior reports in the December suggested the Colombian ace might leave Madrid after he was spotted at the British embassy in Bogota, he also fueled the speculations by admitting he might leave the Santiago Bernabeu.

However, Rodriguez made a comeback on his initial decision after Real Madrid’s win 3-0 victory over Sevilla in the Copa del Rey last week.

He said: ‘Real Madrid is the club I dreamed about,’ Rodriguez said after the match.

‘And here I am living that dream.

‘I’m where I always wanted to be.

‘The Bernabeu chanting my name tonight was like a dream.’

Chelsea boss Antonio Conte is believed to be keen on signing replacement for Oscar and as set sights on other options if Rodriguez decides not to come to Stamford Bridge.

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