As they should.

They essentially hold all of the cards.

A deal for James is one for a popular player that has performed on (arguably) the highest level. But he was also surplus to his club and on wages that needed to be moved along.

I can only assume that CHO is on wages that are relatively insignificant to a club like Chelsea. They have the player under contract for the peak period of his development.

Loan with the option to buy doesn't really make sense (unless the player extends his contract) because he is a free agent in 18 months. You can't really buy someone that's no longer for sale.

There's most certainly an asking price that Chelsea are willing to accept. Only they really know what that is. But having an asking price or letting him walk for free after sitting a year is a move you can make when you hold all the cards.