The 24-year-old was signed to replace now Man City goalkeeper Gianluigi Donnarumma for a reported €55 million last summer.
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Chevalier has since lost his number one place to Matvey Safonov following a string of disappointing performance between the sticks.
According to L’Equipe, PSG are now open to cutting their losses on the Frenchman and will listen to offers this summer.
The report adds that Chevalier could also be open to leaving, with the ‘keeper unlikely to accept being a backup option.