Paris Saint-Germain are expected to complete the signing of Porto left-back Alex Telles “soon”, according to Zero Hora.

The publication is based in Porto Alegre, and they likely have contacts at Telles’s former club Gremio. The newspaper claims that the Brazilian side will be entitled to a small percentage of the transfer fee due to Fifa’s rules on youth development.

PSG are said to be paying around €20m (£17.4m) to €25m (£22m) for the player, which will be a setback for Chelsea who were reportedly interested in signing the 27-year-old.

Some reliable journalists have claimed that Telles was the backup option if the Blues were priced out of a move for Leicester City’s Ben Chilwell this summer.

Manager Frank Lampard is believed to be keen on signing a new first-choice left-back when the transfer window reopens after being left unimpressed by the performances of Emerson Palmieri and Marcos Alonso this season