Chelsea pull out of race to sign £52m-rated PSG target this summer - Reports

Chelsea have reportedly pulled out of the race to sign Sporting CP midfielder and rumored Paris Saint-Germain (PSG) target Manuel Ugarte.

The Blues have been linked with a move for Ugarte, 22, this summer over the past few weeks. However, transfer news specialist Fabrizio Romano has reported that they have exited the race, with PSG offering better terms to the Uruguayan.

Romano provided the update via his Twitter account on Sunday, June 4, writing:

“Breaking: Chelsea are pulling out of the Manuel Ugarte race, PSG are now in the lead to sign the player!

“Player was open to Chelsea move — but PSG have offered more and Chelsea are not willing to pay well above what they consider Ugarte’s 'market rate.'”

In a second tweet, the transfer news expert added that PSG are yet to finalize a deal with Sporting, with the transfer fee expected to be around €60 million (£52.2 million).

Romano also stated in a separate Twitter post that the Blues remain interested in Brighton & Hove Albion midfielder Moises Caicedo. Caicedo was reportedly on their list alongside Ugarte rather than as an alternate option.

The Ecuadorian has notably attracted interest from Arsenal as well.

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Rumored Chelsea and PSG target Manuel Ugarte impressed for Sporting this season

Manuel Ugarte was part of Uruguayan Primera Division side CA Fenix's academy and moved to Portuguese top-flight side Famalicao in January 2021. The midfielder scored once and assisted twice in 21 matches across competitions for the team in the second half of the 2020-21 club season.

Ugarte showed immense potential and talent, which led to Sporting CP signing him in August 2021 on a deal running until the summer of 2026. In his debut season for the club, he played 39 times across competitions, largely as a defensive midfielder, and registered a goal and two assists.

The Uruguayan took on an even more prominent role in the 2022-23 campaign. He featured in 31 of their 34 Primeira Liga matches, averaging 0.5 key passes, 1.8 interceptions, 3.9 tackles and 7.5 successful duels per game. Ugarte also completed 92% of his pass attempts, including 88% in the opposition's half.

He racked up 16 more appearances in other competitions, laying out one assist. The midfielder was particularly impressive in the UEFA Champions League, averaging 4.8 tackles, 2.2 interceptions and 9.3 duels won per game.

Ugarte has also played eight times for Uruguay and was part of their squad for the 2022 FIFA World Cup.