The 15-year-old is regarded as one of the finest young talents in Ecuador and has already attracted interest from several clubs across Europe, including Chelsea, Manchester United, Real Madrid and Bayer Leverkusen.
Paez has shone at youth level and scored on his senior debut for Independiente del Valle in their 3-1 victory over Mushuc Runa last week.
The midfielder could also become one of the youngest players to feature at the Copa Libertadores when Independiente del Valle’s group stage begins later this month.
According to TyC Sports’ Cesar Luis Merlo, Chelsea are pressing ahead with talks to sign Paez and are in discussions over a deal worth €20 million (£17.7m) including add-ons.
Speaking this week, Independiente del Valle’s sporting director, Santiago Morales, revealed that several clubs have been monitoring Paez’s progress.
‘There is interest from several teams, we cannot deny it,’ Morales told Machdeportes.
‘Perhaps the difference is that the clubs are finding out with their football associations how to sign a contract today, so that when he turns 18 he can be registered with them.
‘We are waiting for that to see how that document would be put together and with that proceed to sign a contract, but for now the monitoring and interest of important teams in Europe is maintained.’
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