Roberto Di Matteo has admitted his interest in the Nigerian attacker, who signed from Crystal Palace for an estimated £2.5m in January 2010, and has reportedly offered a player-plus-cash deal to exchange for the starlet.
However, Whelan has asserted that he is only interested in a straight cash deal for the 21-year-old, with a loan deal for Chelsea youngster Josh McEachran thought to be in the offing.
“They need to pay the brass up front - we don't want any part-exchange deals they have offered,” the Latcis owner told ESPN.
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“Victor is one of the most exciting young talents around, so little wonder Chelsea want him, but if they want him they are going to have to pay the price.
“We are not interested in picking up one of their players on loan or in part exchange.
“They know the price for Moses. We are looking to reach £10m.
“If that means £8m cash and some add-ons, that fine, as the lad knows that we want him to stay but that we won't stand in his way either.”
Wigan have previous in selling their star players to bigger clubs for hefty profit, with Antonio Valencia and Wilson Palacios making moves to Manchester United and Tottenham, respectively, in the past.
And Whelan has confirmed that the club are braced for a similar situation with Moses.
He continued: “I don't like standing in the way of a young player who can make the jump to one of Europe's great clubs and play well for them, I would just wish him all the best.
“But really we don't want him to go, he will be worth £15m or £20m after a few months with a club like Chelsea.
“He has a year left on his contract, we have offered him a new one, but we can understand why he would want to play for Chelsea, although I must say there are other clubs sniffing around too.”