The Blues were interested in the Portuguese international during the summer transfer window, but Milan's refusal to waive the player's €150 million (£131 million) release clause prevented a deal from moving forward.
Leao's contract is still less than two years old, and if the Serie A champions can't reach an agreement on a new one, they will have to sell the player either in January or at the end of the current campaign.
This might result in competition for the 23-year-talents, old's and according to Calciomercato, PSG may make a play for the forward they see as "Messi's heir."
Leao is reportedly merely in the Ligue One club's "notebook" of potential replacements for the Argentine icon at this time but they could formalise their interest sooner rather than later, which could also force Chelsea’s hand.
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