Chelsea are the latest club to have been credited with an interest in signing highly-rated striker Paulo Dybala after his agent Gustavo Mascardi revealed that Jose Mourinho's side made an offer for the Palermo star "a while ago".
The London Metro carries quotes from the 21-year-old's representative which explain that the proposal from Stamford Bridge did not meet the Serie 'A' side's valuation of the Argentine talisman, and so negotiations swiftly broke down.
Dybala has attracted admiring glances from a host of top European suitors, with the Daily Mail reporting earlier this month that Manchester United and Arsenal have both been keeping tabs on the South American's situation at Stadio Renzo Barbera as well.
However, Palermo president Maurizio Zamperini is determined not to cash-in on the talented forward on the cheap, and remains hopeful that the widespread interest in the player's signature will help raise the asking price.
At present, the Italians are demanding around €40 million for Dybala's services, which is already a significant fee for a player that has scored 13 goals in 30 league appearances in 2014/15, although that reflects his increasing importance to Giuseppe Iachini's team.
"Zamparini is asking for £29 million and it seems to me like a fair price,"Mascardi told Tuttosport. "Chelsea presented an offer a while ago, but it was very low.
"In the end, Dybala will choose the team in which he sees the best options to grow, and Zamparini will decide if the offer is appropriate for him."
It's not often that Chelsea are reported to have offered too little to sign a player that they're interested in, which raises doubts about how serious Mourinho really is about bringing Dybala to west London.
Given Roman Abramovich's wealth the Blues can sign pretty much whoever they want for whatever price, although the Russian billionaire does face several new restrictions following the implementation of UEFA's Financial Fair Play regulations.
Meanwhile, Arsene Wenger and Louis van Gaal's tentative plans to launch a bid for the player's signature this summer remains equally uncertain, particularly after indications from Dybala's camp that Juventus would be the preferred transfer destination.
Chelsea fans: Do you think there is any truth in rumours linking Paulo Dybala with a move to Stamford Bridge? Have your say below...