Chelsea in line for huge transfer windfall as Inter Milan battle Premier League clubs for ex-star who played two games
Forest, the Toffees and the Serie A giants are all weighing up whether to make a move after both Leipzig and Brentford lodged £35m bids last month.
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Relegated Ipswich want more for their biggest asset and hope to generate an auction for Hutchinson.
Brentford are tipped to return with an improved offer of £37.5m but are now likely to face even stiffer competition for the England Under-21 international.
Hutchinson, 21, did not travel to France for the Tractor Boys' friendly against Auxerre last weekend because of uncertainty about his future.
Boss Kieran McKenna said: 'Omari, with the speculation around his future at the moment, he didn't feel mentally in the right place to come for the game.
'It's a challenging situation for everyone. He's a player that we love and we support and we have empathy with, with the year that he's been through and this important moment in his career.
'We'll keep working and communicating on that situation as well and hopefully it'll be the best resolution for the club and for the player.'
And a sale of Hutchinson by Ipswich could hand Chelsea a huge PSR boost after another summer spending spree.
The England U21 winger played just twice for the Blues, but SunSport understands the West Londoners agreed a 25 per cent sell-on clause before he joined Ipswich.
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Hutchinson put himself in the shop window for a big money move last season as one of the few bright sparks in Ipswich's relegation campaign.
He further proved his class and maturity with his performances in England U21's Euros-winning tournament.
He featured in all six of the young Lions' matches at the tournament, and scored the second goal in their 3-2 victory over Germany in the final.
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