Chelsea may face stiff competition from Paris Saint-Germain for Porto defender Alex Telles, according to a recent report.

The Blues are said to have targeted the Brazil international as the perfect option to plug a troublesome position.

It was previously claimed that Frank Lampard’s side were in a strong position to sign Telles as Pini Zahavi, who has played a key role in Premier League transfers in the past, is now acting as the 27-year-old’s agent.

However, the west Londoners appear to have been dealt a massive blow as Le 10 Sport suggests that the Parisians have joined the race for Telles.

Porto are said to be holding out for around €30m (£26.87m) for the player, though, which could price Thomas Tuchel’s side out of a move.

The South American has made 183 appearances for the Portuguese giants in four years at the Estadio do Dragao.

Meanwhile, Chelsea pair Olivier Giroud and Willy Caballero have both penned contract extensions which will keep them at the club next season.

Giroud’s existing contract had been due to expire at the end of the current, delayed season and he had been linked with a prospective switch to Lazio.

But the 33-year-old, who netted Chelsea’s last goal prior to the pandemic in the 4-0 win against Everton, said he was delighted to confirm his future.

He told Chelsea’s official website: “I am delighted to continue my journey and adventure at Chelsea.”

The board also exercised the option to extend Willy’s contract by a further year until the end of the 2020-21 season.

Caballero told the Blues’ official site: “I am very happy to make this announcement. It is a privilege to be part of this Chelsea squad and the Chelsea family, at one of the most historic clubs in the Premier League.”