Chelsea are in talks with Brighton over a deal to sign Facundo Buonanotte, talkSPORT understands.
The Blues originally made an approach on behalf of their ownership group BlueCo, with a view to a potential move to Strasbourg too.
But Brighton do not want to let Buonanotte leave permanently, planning to only sanction a loan exit.
Chelsea are already in the process of finalising the move for the player, who can play as either an attacking midfielder or right winger.
Leeds were closing in on signing the Argentinian after agreeing a deal to bring him in, but that move has now collapsed.
Instead, he looks set to join BlueCo after spending last season on loan at Leicester City .
Buonanotte joined the Foxes last summer from Brighton and went on to play 35 games in all competitions.