The England defender is regarded as one of best young defensive talents in world football and has been linked with a move to Chelsea all summer.
Stones is seen as a long term replacement for club legend, John Terry and is expected to be an instant upgrade on the faltering Gary Cahill.
Jose Mourinho is a big fan of the Everton centre back and is determined to secure his services this summer.
After two rejected bids in the 20 million pound zone, Chelsea decided to test the waters with a stunning 30 million pound bid, which has now been rejected by Everton.
BREAKING: Sky Sources: Everton reject £30m bid from Chelsea for John Stones. #SSNHQ
— Sky Sports News HQ (@SkySportsNewsHQ) August 18, 2015
Earlier this month, Everton manager Roberto Martinez claimed that John Stones is not for sale and that Chelsea are wasting their time.
It is believed that despite their insistence that Stones won’t be sold, the Toffees are holding out for a fee closer to the 40 million pound mark.
It will be very interesting to see how Mourinho and Chelsea react now.
30 million pound is a lot of money regardless of how talented Stones is. If common sense prevails, Mourinho is perhaps better off looking at other European options this summer.
Elsewhere City are set to complete a 32 million pound deal for Nicolas Otamendi, which underlines the ridiculous inflation for British players once again.