Portuguese club Portimonense have rejected a £35 million bid from Chelsea for a stake in their club, according to the Evening Standard.
The club insists that they do not need investment from Chelsea. However, Blues co-owner Todd Boehly is eager to establish a multi-club network.
He has praised RB Salzburg and RB Leipzig for their projects, with both clubs regularly qualifying for Europe.
Boehly met with Portuguese super-agent Jorge Mendes a few months ago to discuss buying a club in his home nation.
Boehly believes Portugal is a superb place to invest, and he sought to buy a 75% stake in Portimonense.
However, the Portuguese club has rejected their bid, delivering a massive blow to Boehly’s grand plans.
Portimonense had rejected a similar approach from Manchester City. Mendes will work on finding alternatives for Boehly.
Chelsea want to take advantage of Portugal’s lenient work permit regulations to help the South American youngsters they sign to gain European experience before coming to the Premier League.
The Blues recently had to send Brazilian midfielder Andrey Santos back to Vasco da Gama following his £18 million move after he failed to secure a work permit to play in England.
Chelsea wanted him to join their set-up immediately, but he missed out on his permit twice by a point.
The Londoners want to be able to snap up signings like Enzo Fernandes before they start going for exorbitant fees.
Chelsea reportedly made offers for Lyon, Bordeaux, Sochaux-Montbeliard and Santos. The clubs rejected them.
However, they are negotiating with Strasbourg president Marc Keller about a stake in the Ligue 1 club.
Boehly has accelerated plans for his multi-club project after UEFA president Aleksander Ceferin hinted at changes in ownership rules.
The UEFA boss disclosed that they could relax restrictions on clubs with the same owner playing in European competitions simultaneously.
