Everton are not signing Porto left-back Alex Telles this summer.

That’s what Portuguese newspaper Correio da Manhã writes today.

The outlet brings a short paragraph this Monday saying a move to the Toffees has collapsed, as the Premier League side can’t afford the signing.

According to Record, Telles was Marco Silva’s favourite target to reinforce the team’s defence, but it’s claimed Everton can’t pay the €40m demanded by Porto.

Correio da Manhã state several clubs are keeping an eye on the player, but as none of them have shown the intention to pay that much, then Telles should spend another season at the Portuguese side.

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The Brazilian has been linked to several top clubs in the past few months, including Chelsea and Liverpool, but as revealed by Sport Witness in June, Porto aren’t interested in a negotiation and will refer to the player’s release clause.

Telles still holds the dream of playing in the Premier League, but there isn’t much he can do until his contract with Porto expires in 2021… unless someone pays up.