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French newspaper L’Equipe report Paris Saint-Germain and Stade Rennais have reached an agreement for the transfer of young centre-forward Arnaud Kalimuendo.

Leeds United were understood to be admirers of the French attacker however now it appears the club will miss out on the Under-21 international’s signature.

Rennes’ coffers have been boosted this summer by the £25 million sale of 17-year-old Mathys Tel to Bayern Munich.

PSG have agreed a £21 million fee with Stade Rennais for Leeds target Arnaud Kalimuendo according to reports in France (Photo by Koji Watanabe/Getty Images)

It appears the bulk of that will be reinvested in Kalimuendo as the 20-year-old looks set to remain in Ligue 1 after two seasons on loan at RC Lens in France’s top flight.

"Stade Rennais and PSG were, in recent hours, very close to finalising their agreement for a transfer estimated at 25 million euros, bonus included. A transaction with a percentage on a future resale of the attacker,” report L’Equipe.

Rennes finished fourth in Ligue 1 last season and will compete in the UEFA Europa League group stage this term.

Leeds are expected to turn their attentions to other targets and priorities as the final three weeks of the transfer window approaches.

The club are still active in the market for centre-forward and left-back cover.

"I don't want to go too much into the transfer situation,” Jesse Marsch said prior to last weekend’s win over Wolves.

"It takes away attention from the group that we have here right now. What I said at the end of the game against Cagliari when we had our little group together is we've done a really good job with the group with the guys that we've brought in so far.

"I think we're really trying to again be very precise with exactly who we want and what we need for the next steps in this transfer window. So we have some time. I think we'll probably make one addition next week. And then we're we're continuing to look at what else is out there,” he added.

Marsch added experienced goalkeeper Joel Robles to his squad this week but business remains quiet elsewhere on the transfer front.

Leeds United braced for disappointment as transfer rival reportedly agree £21 million deal