The former Barcelona stopper has not been a success at Stamford Bridge, and Claudio Ranieri is believed to be willing to allow the player to move on, if the deal is the right for the Londoners.
Celtic boss Martin O'Neill is still hunting for a new centre back, after having a bid for Leicester City captain Matt Elliott rejected, and he tried to sign Bogarde on a three-month loan deal before the first Champions League deadline last week.
The enquiry was made through an agent, but Hutchinson insists Chelsea would want the deal to be a minimum of one season in order to do business with the Parkhead giants.
Atletico are also keen on the 30-year-old, as they look to make sure of promotion back to Spain's top flight this time around.
"There has been an enquiry from Atletico Madrid," confirmed Hutchinson. "And, through an agent, there was talk of a short-term loan to Celtic which, in the interests of the player, we were not keen on.
"We would have looked at him going there for a full season but whether Martin wants to resurrect that one, I don't know."
Albert Ferrer has also been attracting attention from Real Betis, but the Seville side seem in no rush to conclude a transfer.
"With Ferrer, Real Betis of Seville have shown some interest but that has cooled," added Hutchinson.
"The Spanish season starts a week after ours so they are not under quite the same pressure as England to get players in."
One player definitely staying at Stamford Bridge is experienced Dutch keeper Ed de Goey.
"He is one of three quality keepers," Hutchinson told Sky Sports News.
"There is no suggestion of him moving.
"You need three top keepers and this is what we have got.
"He's more than happy to stay. He's under contract until 2003 and loves it at Chelsea."
Jon Harley has completed his £3.5 million move to neighbours Fulham, after successfully passing a medical at Craven Cottage.
