Starting Italy center forward Graziano Pellè has one year left on his contract at Southampton, but apparently they have no intention of offering him a new contract and are just waiting for the right offer to come along. That right offer is expected to be in the £10-20m range, the lower end of which would not be too unreasonable for the soon-to-be 30-year-old who scored twice at Euro 2016 (and then hilariously missed in the shootout against Germany).
Reports both in England (e.g.: Telegrap) and Italy (e.g. Di Marzio) agree that Chelsea (thanks to Antonio Conte), Everton (thanks to Ronald Koeman, who's managed Pellè at three different teams already), AC Milan (who've had prior interest), and Shanghai Shenhua FC (of course there's a Chinese Super League option) could all be interested, with Conte specifically wanting a bid made ready this week. He will have to hope that Pellè would really want to play for him again, considering the club's over-30 contract policy and the untold riches that China would no doubt be offering.
There's also the small matter of where Pellè would fit in at the moment. It's all gone quiet on the Diego Costa front, which could be ominous, but my guess is that it isn't. But if Costa does pack up and leave before the end of the transfer window, Pellè, who scored in double digits in both of his seasons at Southampton, would be a decent, if not exactly scintillating replacement. Just don't let him take penalty kicks*.
* If you're going to call your shot, it's only cool if you actually do it. It's even less cool if you don't even hit the target.