Roman Abramovich wants former Barca chief Guardiola as his next manager and dreams of linking Suarez with Atletico Madrid's Radamel Falcao, that is believed to be heading Chelsea's way in January.
But in the background is Jose Mourinho, who would love to manage Chelsea again and whose daughter Tita has enrolled in a London college, the Daily Mirorr reports.
According to the report, while Mourinho is still on good terms with Abramovich and is keen to return to the Premier League, sensing his time at Real Madrid is up, Chelsea fans may think Guardiola is the better option if he can guarantee Suarez's signature.
Manchester City are also in the Suarez hunt but Chelsea  will match their salary offer a possible 50 million pounds once they sell Fernando Torres, the report said.
Guardiola is on a year-long sabbatical but currently there are eight clubs that are interested in him, City included, and he will discuss his next move with advisers at Christmas, the report added. (ANI )