Several Premier League teams have suffered a blow in their attempts to sign Brazilian wonderkid Gabriel Moscardo.
Arsenal and Chelsea have been linked with the Corinthians midfielder for months.
Liverpool, Manchester United and Barcelona are also said to be interested in the centre-forward, who is apparently one of the hottest candidates to be bought in January.
However, Fabrizio Romano has dealt a blow to all those clubs that have only been linked with the central midfielder.
Romano said that PSG had agreed a £17 million deal for the 18-year-old.
Corinthians will also receive £1.7 million in add-ons and the youngster will soon fly to Paris to complete the transfer.
Moscardo said in an interview last month that he had been contacted by Chelsea in the summer.
According to the Daily Mail, he said: ‘Chelsea wanted to invite him to Chelsea: “Chelsea made an offer months ago, but I’m talking a lot to my agent and my parents, who are trying to give me information.
“They say there’s not much time left, they tell me I need to focus and do well and that there are good things waiting for me at the end of the season.”
Moscardo was called up to the Brazil U23 national team despite his young age because of his performances for Corinthians.
He is currently enjoying a one-month break after the end of the Brazilian Serie A season.
His club, Corinthians, finished in 13th place.
In a recent interview, Corinthians President Augusto Melo confirmed that Moscardo had decided to join PSG.
Speaking to Radio Bandeirantes, Melo said, according to Foot Mercato, “Mardo said: ‘Unfortunately the cycle is over, his thoughts are elsewhere, we gave him the freedom to choose, let him be happy. He is going to Paris.”