Despite the striker's agent coming out to debunk that report, it is believed both clubs are indeed working on a loan move.
Osimhen wants PSG over Chelsea?
However, the Napoli striker prefers to join Paris Saint-Germain, according to The Standard.
Osimhen is attracted to Chelsea, but the prospect of a higher salary and Champions League football at PSG is more appealing.
Both clubs cannot meet his hefty release clause, leading Chelsea to explore a season-long loan deal. However, PSG are keen on signing him permanently, which could give them an edge in the negotiations.
With the transfer window closing in a few weeks, time is running out for Chelsea to convince Osimhen to join them. If they fail, PSG are poised to swoop in and secure the Nigerian forward's signature.
Osimhen's decision will be a crucial one, as it could impact the trajectory of his career and Napoli's move for Romelu Lukaku hinges on this transfer.
Meanwhile, another Chelsea target Nico Williams has chosen to remain with Athletic Bilbao for the new season, effectively putting an end to any move to Barcelona this summer.
Chelsea had targeted Williams after missing out on Michael Olise, who left Crystal Palace to join Bayern Munich.