Brazilian outlet RTI Esporte reports that Páez's representatives have offered the 19-year-old to the Brazilian club over the past few days, prompting Mineiro to begin analysing the conditions of a possible deal. Discussions are still at an early stage and no formal proposal has been submitted.
Páez, born in Guayaquil, Ecuador in 2007, is one of the most celebrated young talents in South American football. He joined Independiente del Valle as a 12-year-old and became the youngest player and youngest goalscorer in Ecuador's top flight on his professional debut at 15. Chelsea agreed to sign him in 2023 and completed the transfer when he turned 18 in July 2025.
His development since has been difficult. A loan at Strasbourg produced 21 appearances but only 700 minutes of playing time under Liam Rosenior. River Plate was his next destination in January 2026, but he managed just three starts in 14 appearances before the Argentine club cut the arrangement short, with reports citing both footballing and off-field reasons.
Chelsea have decided Páez is not yet ready for the first-team squad and are looking for a new environment that can give him the consistent minutes his development requires.
Atlético Mineiro's interest is a consequence of being approached rather than active pursuit, but club officials are evaluating the financial viability of a deal. Their coaching staff are attracted by Páez's versatility — he can operate on either wing or through the middle as a creative attacker.
A departure by former Nottingham Forest midfielder Gustavo Scarpa could create financial room for Mineiro to act.
Páez is currently with Ecuador at the World Cup and has remained on the bench throughout their three group games.