It has been reported that Newcastle have formally signalled their interest in signing the 20-year-old midfielder on a loan deal, and so have seven different other clubs.
Crystal Palace and West Ham are claimed to be ‘especially hopeful’ of completing a deal for the youngster.
Gallagher spent the first half of the past season on loan at Charlton Athletic and the second half on loan at Swansea City.
During his loan spell at the Addicks, the England Under-21 international made 25 starts and one substitute appearance in the Championship, scoring six goals and providing two assists in the process, according to WhoScored.
Charlton manager Lee Bowyer raved about the youngster, telling talkSPORT in October 2019 that “his willingness and work rate are unreal”, and that the youngster is “a good player” who “hit the ground running” at the club.
The midfielder made 21 appearances in the Championship for Swansea, providing six assists in the process, according to WhoScored.
Gallagher did well in the Championship this past season, and the 20-year-old is ready to step up and play for a club in the Premier League.
With Chelsea looking strong in the attacking department, especially following the signings of Timo Werner and Hakim Ziyech, the England Under-21 international is unlikely to get much playing time at the Blues next season, and a loan move to Newcastle or West Ham would make sense.