The Blues have been working hard to bring in top quality players in every position this summer.
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While a lot of their focus this week is on outgoing moves, The Mirror states that Araujo is the subject of interest.
The 22-year-old Portuguese defender is one who the Blues believe can become an immediate starter.
Paris Saint-Germain have also been keeping tabs on his situation, as they seek to move on from Milan Skriniar.
Benfica have already worked with PSG this summer, selling them Joao Neves.