The Turkish club had recently made a formal loan offer for the 19-year-old, but sources in Ecuador now say Trabzonspor have withdrawn from negotiations, leaving Chelsea searching for alternatives while Páez continues training separately from Eduardo Coudet's squad at River.
Ecuadorian insider Mr. Offsider reported over the weekend that Trabzonspor had decided against signing Páez, with further reports from Argentina on Monday backing up that information.
The proposed deal had been structured as a one-year loan without a purchase option, with Trabzonspor also set to cover the majority of the midfielder's wages — an arrangement that would have allowed River to formally end his current loan early.
With that route now closed, Chelsea need another solution. KV Mechelen could provide one, having been linked with Páez at the same time as Trabzonspor and remaining among the possible destinations for the Ecuador international. Unlike the Turkish club, though, there has been no report of a formal offer from the Belgian side.
An English option has also emerged. Mr. Offsider claimed Chelsea have held talks with several Championship clubs over Páez, while Ecuador's El Futbolero specifically identifies Norwich City as a possibility.
That link remains tentative, with no suggestion of an offer or advanced negotiations at this stage, though a Championship loan would at least keep Páez in England and give him his first taste of the country's football.
Páez, full name Ray Kendry Páez Andrade, joined Chelsea from Independiente del Valle before a difficult loan spell at Strasbourg last season and a similarly underwhelming stint at River Plate, where he has struggled to secure regular game time under Coudet.
For now, with Trabzonspor having walked away, Mechelen only a possibility and Norwich at an even earlier stage, Páez remains out of River's plans and waiting for Chelsea to find him somewhere to play.