Chelsea pulls out of Manuel Ugarte race

In a surprising turn of events, Chelsea Football Club has decided to withdraw from the race to sign talented midfielder Manuel Ugarte. Reports suggest that Paris Saint-Germain (PSG) has now emerged as the frontrunner to secure the services of the promising player.

Italian transfer expert Fabrizio Romano shed light on the situation, revealing that despite earlier reports indicating a potential deal, negotiations between Chelsea and Ugarte were still ongoing as of Saturday.

The club was actively discussing contract terms with the player, indicating his openness to a move to Stamford Bridge. However, PSG has since made a more enticing offer, altering the landscape of the transfer.

As it stands, Chelsea has shown a reluctance to exceed what they deem as Ugarte’s “market rate” in their pursuit of the young midfielder. This has given PSG an opportunity to step in and potentially secure his signature.

The French giants, led by their sporting director Luis Campos, are currently engaged in negotiations with Sporting Lisbon, aiming to finalize a deal worth around €60 million for Ugarte’s services.

It is worth noting that Chelsea, in their pursuit of midfield reinforcements, have always had their sights set on another Ecuadorian talent, Moisés Caicedo. The club has maintained an interest in Caicedo and his name remains on their list of potential signings for the upcoming summer transfer window.

Ugarte, a highly regarded midfielder, has attracted significant attention with his performances for Sporting Lisbon.

The 20-year-old’s skill set and potential have made him a sought-after prospect in the European transfer market. While Chelsea initially expressed interest, their unwillingness to meet the increased financial demands has allowed PSG to position themselves as the favorites in the race for Ugarte’s signature.

With negotiations ongoing between PSG and Sporting Lisbon, the final outcome of this transfer saga is yet to be determined. Football enthusiasts eagerly await further developments as the summer transfer window approaches, keen to see which club will secure the services of the talented Manuel Ugarte.