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The Blues have had their big-money offer snubbed but remain at the front of the queue for the Brazil international's signature ahead of European rivals Inter and Real Madrid.

Chelsea has had a 40 million euro bid for Sao Paulo starlet Lucas Moura rejected, but remain the favorite to sign him, according to the Brazilian club’s president.

The highly-rated 19-year-old has already made 11 appearances for Brazil, scoring once, and is also a summer transfer target for Inter and Real Madrid.

Speaking to FCINTER1908, Juvenal Juvencio confirmed that he had turned down the mammoth offer from Chelsea.

"[We did not accept it] but obviously, at the moment, Chelsea are the closest team to Lucas," he declared.

"Inter made an offer of 25 million euros, but this was not considered sufficient by us. Real Madrid is one of these [interested clubs] - there have been contacts with the president Florentino Perez, who admires the player."

Juvencio went on to back the youngster to be a success in Europe, but only when the right price is met.

"Lucas is a big player who will triumph in Europe, but Sao Paulo will only sell him for an enormous offer," he said.

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