PSG Beat Chelsea in Race to Sign Sporting Star Ugarte for €60 Million

PSG set to sign Manuel Ugarte from Sporting Club after making a significantly higher offer than Chelsea
Chelsea pulled out of the race for the midfielder after PSG offered much more money
Both clubs were willing to trigger the €60 million release clause in Ugarte's contract
Chelsea added bonuses to their bid but ultimately lost out to PSG's greater financial strength
Chelsea's decision shows a new financial restraint and discipline in their transfer dealings