However, they could be allowed to sign players during the January transfer window, after appealing the decision at the Court of Arbitration for Sport.
If they do, they are expected to push for a move to sign Chilwell, who had previously been a transfer target for Manchester City.
And Darke believes the young England defender would be an upgrade on both Marcos Alonso and Emerson.
“He’s a really good player and he’s come on a lot since he was that player who wasn’t good enough when Leicester upset the odds to win the Premier League,” Darke explained on ESPN FC.
Leicester City star Ben Chilwell has emerged as one of the best defenders in the league (Image: GETTY)
“Now, he’s one of the best left-backs in the league, no doubt about it.
“It would be a lovely move for him to go to Chelsea, who are a trophy-winning team.
“No offence to Leicester, but it’s potential with Leicester, they’ve got to finish in the top four.
“For the player, yeah it’s a good move.
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Chelsea reportedly want Ben Chilwell (Image: GETTY)
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“I don’t think Leicester City will want to sell, though, to a top-four rival.
“Marcos Alonso’s star has been on the wane since the title-winning days, so he’s number two to Emerson, I’d say.
“Chilwell would be an upgrade to either of those.
“If Chelsea were able to get that down when the transfer ban is lifted, that would be a great bit of business.”