101 covered reports at the beginning of July, which claimed Chelsea had scheduled a new round of talks for Matheus Franca with Brazilian outfit, Flamengo.
At the time, it was claimed Chelsea were trying to negotiate for a €20m fee, while Flamengo wanted at least €25m.
However, Chelsea seemingly could not get Flamengo to budge on their valuation as Crystal Palace are now set to sign the 19-year-old Brazilian.
Fabrizio Romano provided an update on Franca on Monday, claiming Chelsea gave up on a move because the valuation was too high:
“Matheus Franca will undergo medical tests this week, as he’s going to become a new Crystal Palace player,” Romano said.
“Chelsea held two rounds of talks with Flamengo but never sent any official bids as the €25-30m value was considered too high.
“Newcastle also tried for Franca back in January – they made two bids, but then no more proposals. Crystal Palace did excellent work on this one and look to have signed a real gem.”
Franca is a product of Flamengo’s youth system and has notched 53 appearances for their senior side. In said games, he has scored nine goals