Chelsea are set to miss out on signing Zenit St. Petersburg midfielder Leandro Paredes, with Paris Saint-Germain willing to meet the Russian club's asking price.
Goal understands the Ligue 1 leaders have made an offer of €40 million (£34.9m/$45.5m) for the Argentina international, with a further €5m (£4.1m/$5.7m) to be paid in commissions.
Chelsea value the player are closer to €30m (£27m/$34m), and as such will be forced to look elsewhere in their search for midfield reinrforcements with Zenit chief Alexey Miller likely to accept PSG's offer.
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The Blues had hoped to bring the 24-year-old to Stamford Bridge as they try to replace the hole left in their squad following Cesc Fabregas' departure to Monaco.