Malaga are hoping to snatch one of Chelsea strikers Demba Ba or Romelu Lukaku before the transfer window closes in September 2.
According to the Daily Star, Malaga boss Bernd Schuster primarily wants to secure a season-long loan for Lukaku and believes he may be able to land him if Chelsea can secure the signing of Wayne Rooney.
Schuster believes Malaga can offer Lukaku further vital first team experience if his playing time is reduced by the arrival of Rooney at Stamford Bridge.
The Spaniards are strapped for cash and so a loan deal is the best they can hope for and Jose Mourinho might view one more season on loan as beneficial for the 20-year-old, despite him having just returned from a successful season-long loan at West Brom.
If a deal for Lukaku cannot be done, the report claims Malaga will turn their attentions to Ba, who is reportedly available for a fee of around £8million.
It claims Chelsea are keen for a permanent deal to offload the Senegal international, but the Primera Division side are hopeful of getting a loan agreement done.