The London club attempted to sign the Cameroon right-back three times last year but Real were unwilling to drop their £8.5 million asking price.
Chelsea coach Claudio Ranieri, though, remains convinced that the 23-year-old would make an ideal buy.
« Geremi is the kind of player we need if we want to take the next step, » he told onefootball.com. « He is a very desirable purchase because of his physical strength and versatility. But at the moment we don’t know how things will work out. »
The Spanish club could wait to see if the player’s stock rises at the World Cup before agreeing any deal.
Chelsea are understood to only be prepared to pay £6 million, having refused to splash out the £8.5 million Real demanded last July.
Geremi only played eight times in the 2001-02 season as coach Vicente del Bosque preferred Michel Salgado in his position. He nevertheless made a key contribution during Cameroon’s triumph at the African Nations Cup in Mali.
The defender almost left Real in the summer of 2000 following interest from Leeds United and Benfica.
Geremi was signed by former Real coach John Toshack from Turkish side Genclerbirligi, where he played for three seasons after a single campaign with Paraguayans Cerro Porteno.
