Reports suggest that Todd Boehly has been rejected in his attempts to buy Brazilian club Santos.
According to the Evening Standard, the American was looking to make the eight-time Brazilian league champions the first feeder club in his proposed new multi-club model.
The system has been used to great success by the Red Bull clubs across the world, with Manchester City also adopting a similar tactic.
Santos are well known for providing the world with two of the greatest footballers of all time, with both Pele and Neymar being products of their academy.
However, the Evening Standard have claimed that the Brazilian club swiftly rejected the offer, seemingly not interested in becoming a club which helped stockpile young talent for the Blues.
Santos reject Chelsea bid
Despite the setback, the report goes on to claim that Boehly’s attempts to make inroads in Brazil are not yet done, with the owners expected to reconsider another club in the country.
The news comes after the Blues have reportedly sounded out Portugal as their first European venture into expanding their multi-club model, with the owners in the knowledge that their status as the most competitive league outside of the big five makes them an interesting avenue.
The model the club are looking to launch has been seen to be very successful in the past, and this summer the Red Bull clubs reaped the full rewards.
Many European sides were interested in signing RB Salzburg’s Benjamin Sesko, with Chelsea and Manchester United notably keen to sign him.
However, he ended up committing his future to Bundesliga side RB Leipzig, and will join up with them after one season on loan back at the Austrian side.
Chelsea got a first-hand glimpse at his talents two days ago, as he impressed in the 1-1 draw at Stamford Bridge.