Press Association Sport understands there is a real prospect of Malouda being sold or loaned out in the near future, either way effectively ending his five-year Stamford Bridge career, with less than a year remaining on his contract.
The 32-year-old, linked with a return to former club Lyon ahead of Tuesday's midnight transfer deadline in France, has not featured at all in any of Chelsea's matchday squads this season and has been heavily touted for a move away all summer.
He was omitted from the 29-man party the Blues submitted to UEFA today ahead of their defence of their European crown and although he was named in the squad for the first half of the Barclays Premier League season this afternoon, that may not prevent his departure.
A transfer to Brazilian giants Santos reportedly collapsed earlier this summer due to the wage demands of the France winger, who has been at Chelsea for five years but has become increasingly peripheral.
On Monday the Blues let Raul Meireles join Fenerbahce, while Michael Essien moved to Real Madrid on a season-long loan during Friday's transfer deadline day.
Veteran goalkeeper Hilario was also omitted from the Champions League squad announced on Tuesday, although he too was in the Premier League submission.
Source: PA
Source: PA