Chelsea have lost out to Paris Saint-Germain for Zenit St Petersburg midfielder Leandro Paredes, according to the Daily Telegraph.

The Blues agreed a deal for the Argentine earlier this month but it is believed they have been too slow to seal the transfer.

Instead, PSG have agreed a €40m (£34.9m) transfer fee with Zenit for Paredes, and the 24-year-old is now expected to move to the Ligue One side.

Whether Chelsea will now go after their other midfield target Nicolo Barella, it remains to be seen.

The Italian international is also a target for Inter Milan with the Nerazzurri attempting to lower Cagliari’s €50m (£45m) asking price for the player.

However, their attempts to do so may be hindered by the fact that their preferred replacement, Boca Juniors’ Nahitan Nandez, could be off to Leicester City.

Reports in Argentina suggest that negotiations between Boca and Cagliari have collapsed, with the Foxes said to be offering a better deal.