Premier League giants Chelsea have been forced to walk away from negotiations for a transfer target.

The Blues were hoping to secure the signature of Corinthians star Gabriel Moscardo.

However, the deal appears to have hit a dead end, as two bids were rejected by the Brazilian club.

Sport says Chelsea want to sign Moscardo and have chased him since the summer window.

However, his £26 million asking price may be too steep for the club to pay, given his rawness.

The issue for the Blues is that unless they up their bid, they may lose the player to La Liga giants Barcelona.