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But according to the Standard, the Blues are aiming to steal a march on their rivals by meeting with Endrick in an attempt to woo him.
The West Londoners are hoping that their exorbitant wealth can tempt Endrick to Stamford Bridge.
This could prove to be a tricky task, however, with the wonderkid and his father Douglas working with representatives that are also on Vinicius Jr’s team.
Vini, 22, made a similar move from Brazil as a teenager in 2018.
Endrick is expected to make a decision on his future early next year – but won’t move to his new destination until he turns 18 in 2024.
The future superstar’s representatives are said to be prioritising a move that will help his development in the long-term.
But having Chelsea, Madrid and PSG all in for him will secure a lucrative deal.
After a prolific spell in Palmeiras’ academy, Endrick made his senior professional debut during a 4-0 victory over Coritiba last month.
The goals have quickly followed, Endrick netting twice from the bench against Athletico-PR – before marking his first start with a goal in a clash with Fortaleza.
Prior to his senior bow, Endrick bagged a sensational 165 goals in 169 matches for Palmeiras’ academy sides.