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Chelsea had been linked with Inter Milan full-back Achraf Hakimi, but reports now claim that the Blues have pulled out of the deal.
French giants Paris Saint-Germain have closed in on the deal, and according to Gazzetta dello Sport, an announcement is expected to be made in less than a week’s time.
Chelsea had seen a cash offer plus Marcos Alonso rejected for the Morocco international, and PSG is believed to have paid up to £55.8m for the young fullback.
The report by Gazzetta dello Sport also claims that Hakimi had remained open to the prospect of joining the Champions League winners, but Chelsea weren’t keen on paying over the odds for his signature.
No bid is expected from Chelsea, as the Blues have pulled out of the race for the 22-year-old who has now agreed a five-year contract with PSG worth €10m (£8.6m) per season including bonuses.
Erling Haaland still remains Chelsea’s number one target this summer, and Chelsea owner Roman Abramovich is believed to be keen on seeing the deal happen.