Lions sporting director Levent Nazifoglu has however, confirmed that Ivanovic is not currently a target and that talks are not underway.
Nazifoglu was quoted by Turkish-football.com as saying: “Ivanovic is not currently a target, we are not in talks with Chelsea over him.”
Galatasaray currently have the joint worst defensive record in the top five having conceded 10 goals this season and head coach Jan Olde Riekerink has made signing a defender over the international break a priority.
The Lions are constrained financially as they are currently under the watch of Financial Fair Play after being suspended from European competition for one-season after breaching regulations set by UEFA.
Galatasaray had a quiet summer by their standards but still managed to bring in Netherlands international midfielder Nigel De Jong, Switzerland international Eren Derdiyok and Turkish international defender Serdar Aziz.