PSG have beaten Chelsea to the signature of Leandro Paredes.

The midfielder was heavily pursued by both clubs in recent weeks.

However, PSG have come out on top, confirmed the capture of the Zenit St. Petersburg star on Tuesday, in a deal reportedly worth £35m.

After completed the move, Paredes told the club's official website: "I'm very proud to be joining Paris Saint-Germain.

"After my previous experiences in Italy and Russia, I now have this fantastic opportunity, not only to discover a new league, but above all one to wear one the most prestigious club jerseys in the world.

"I'd like to thank the chairman and the coach for the confidence they have shown in me by signing me.

"We all know the extraordinary sporting dimension of Paris Saint-Germain, its players and staff. I share the same high ambitions and I will do everything I can to give my club what it expects of me as a midfielder.

"I also look forward to the passionate atmosphere of the Parc des Princes, as I grew up with football fever in Argentina."

Chelsea had been interested in Paredes as a replacement for Cesc Fabregas, who joined Monaco earlier this month.