Chelsea has to get rid someone before they will able to sign Garnacho. Things also getting complicated for them caused by MU may never reduce Garnacho's asking price, while Chelsea wanted far less than it. At the same time, Garnacho is hoping so much on Chelsea, and still waiting them.
Manchester United are the reason why Chelsea are pricing Garnacho so low. Manchester United already made it public that they no longer need Garnacho, and they not going to work with him any longer, so that’s just the reason why Chelsea are pricing Garnacho so low, because Chelsea already knows that Manchester United won’t have choice than to sell Garnacho, because if they keep him, he won’t be playing for Manchester United, and United won’t have choice, they will keep on paying him, and Garnacho is rejecting other clubs offer, he really wants to play for Chelsea. So Chelsea believe they can’t spend huge amount of money on a player that Manchester United don’t even value.
Garnacho future remains unclear, but one thing is certain, Manchester United no longer want him. I'm a bit surprised that Garnacho considers Chelsea the ideal club to rebuild his fading career. Perhaps he has the ambition to prove that Ruben Amorim was wrong to let him go from Old Trafford. Given the situation, I think it's indeed better for Garnacho to leave Manchester United.
Chelsea is in a more advantageous position in the negotiations to recruit Garnacho, but without releasing their current players, they will most likely violate FFP rules. Enzo Maresca might push for Nkunku and Nicolas Jackson to leave to create balance in their salary structure this season.