failed with a player-swap deal for forward Rafael Leao, according to reports.
Leao played a key role in AC Milan’s Serie A success last season with 11 goals and eight assists and has carried on this impressive run of form this term.
although reports this month have claimed that he has now agreed a new five-year contract with the Italian club.
And this new deal will come as a major blow for Chelsea, who made a strong push to sign Leao last summer.
According to , Chelsea valued Leao at €100 million (£86m) and even attempted to include Christian Pulisic and Hakim Ziyech as part of the deal.
However, Milan rejected Chelsea’s proposal and would only sell the 23-year-old if his €150m (£130.5m) buyout clause was met.
The report also claims that Chelsea had considered signing Leao this summer with a view to playing him as a striker, but his new deal with AC Milan has scuppered those plans.
Speaking about his future with Gaffer magazine, Leao made it clear that he is keen to play in the Premier League before his career finishes.
‘I think every player wants to play in the Premier League because it’s a very competitive league,’ Leao said.
‘It has engaging football, great teams and a worldwide audience. Serie A is currently very well positioned in the football world but I would definitely have to say the Premier League in the future.’
, ., and .