The Telegraph says Chelsea could be forced to sell Cech in order to fall in line with homegrown quotas for the Premier League and Champions League.
The return of Stamford Bridge icon Didier Drogba means the Blues have one too many foreign players to meet guidelines.
Manager Jose Mourinho has been touting Fernando Torres and Jon Obi Mikel around to other clubs, but if there are no takers Cech may be the one to depart.
Mourinho said: "From the group you are expecting us to have as a squad, I have to send one away because we have one extra foreign player.
"So from all these players, if you think all of them have to stay, you are wrong. One of them has to go."