The Belgian international has caught the eye of a host of suitors this season having impressed both in attack and midfield for the Cottagers, and both Chelsea and Manchester City are in the hunt to land the versatile former AZ Alkmaar player.
Dembele is in the final year of his current deal with Fulham, meaning he could be able to leave the west London outfit on the cheap should he refuse to sign a new deal in order to force a move.
While Tottenham and Liverpool have previously expressed an interest in Dembele before it is Chelsea and Manchester City who lead the chase for his signature, with both clubs keen on snapping up a potential bargain.
While Fulham are keen to retain the services of one of their finest players this term, it is claimed that Fulham would be willing to listen to offers above £10 million for the 24-year-old, double the figure they paid for him in 2010, rather than lose him on a free next season.
City boss Roberto Mancini is reportedly keeping a close eye on goings-on at Fulham while Chelsea are also monitoring the situation ahead of a potential summer swoop. Arsenal are also keen on Dembele, believeing the Belgian internattional represents good value.