The Belgian’s current deal expires in 2020 and while the Blues are desperate to tie him down to a longer deal, Hazard is stalling on committing.
He rejected their first offer last month and rumours have sparked that he is holding out for a move to Real Madrid.
RMC Sport report that the deal would have seen him become the highest paid player in Chelsea’s history.
The La Liga giants want to bring Hazard to the Bernabeu as part of a major squad makeover, with the futures of forwards Cristiano Ronaldo, Gareth Bale and Karim Benzema all in doubt.
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Eden Hazard next club odds

“Hazard is in no rush to extend his deal and may wait until the summer to see if Real submit a concrete offer.”
PSG star Neymar and Tottenham’s Harry Kane are also on Zinedine Zidane’s shortlist, as he seeks to make Real Europe’s most fearsome team again.
Hazard is in no rush to extend his deal and may wait until the summer to see if Real submit a concrete offer.
RMC Sport claim that Antonio Conte is furious with Hazard, while Real are well aware of his hesitation.
The 26-year-old has been in stunning form for Chelsea this season, scoring eight times and providing eight assists so far.
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The Blues are currently third in the Premier League, just a point behind second-placed Manchester United.
They’re back in action tomorrow as they travel to Championship outfit Norwich in the FA Cup (5.30pm).