Lyon up the ante over Malouda

Lyon have revealed no club has met their asking price for Chelsea target Florent Malouda.

The Blues and Real Madrid have both declared their interest in signing the France winger, who has expressed a desire to leave the Stade Gerland.

But the French champions have released a statement which read: "The club recalls that they accepted the request of the player to look at opportunities to move, declaring from the start that the transfer fee should be between 20 and 25 million euros. At the moment, no offer at this level has been made to Lyon."

The statement continued: "Nevertheless, the club stay loyal to the promise made to the player and are therefore prepared to look at all offers that have been made."

Chelsea appear to be leading the race for Malouda's signature.

It is believed they have made an offer for the player but it appears they are yet to meet Lyon's valuation.

Officials of the two clubs are expected to meet in the coming days for further negotiations.

"A meeting between the directors of the two clubs will take place before the end of the week," a member of the Lyon board said in L'Equipe.