Chelsea will consider making a formal approach to buy West Ham midfielder, rather than secure his services on a temporary basis, it has been claimed.
According to The Telegraph, the west Londoners are mulling over an offer - which could be around £9 million - for Parker, who has reportedly been identified as an ideal replacement for Michael Essien.
The Ghanaian will be sidelined until the new year at least after undergoing knee surgery, having suffered a serious injury during Chelsea's first full day of pre-season training.
It is, however, alleged that Chelsea will have to contest Aston Villa and Newcastle for Parker, with the former expected to use the windfall from the sale of Stewart Downing to fund a move for the 30-year-old.
Should Chelsea complete a deal for the England international, it would be a remarkable turn of events, with Roman Abramovich having splashed out £10 million to bring Parker to Stamford Bridge seven years ago.
Parker was, however, deemed surplus to requirements by Chelsea, and was shipped out for a cut-price £6.5 million to Newcastle after just one season.
The midfield dynamo left St James' Park in 2007 - joining West Ham - where he has fulfilled the promise demonstrated during his time with Charlton.