While Koeman is keen to make the most of the £100m transfer kitty handed to him this summer by securing a reunion with Pelle at Goodison Park.
Euro 2016 stars Chelsea should sign
However, the Daily Star claim both Premier League clubs will face competition from Chinese Super League side Shanghai Shenhua for Pelle's signature.
It is claimed they are willing to offer him a whopping £150,000-a-week contract to lure him to China.
If a deal was to be struck Pelle would link up with former Newcastle and Chelsea ace Demba Ba, Obafemi Martins and Columbia international Fredy Guarin.
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