The daily newspaper go onto state that the Istanbul Giants are holding out for at least £10 million for their star left-back.
Telles put in an impressive performance in Galatasaray’s opening game against Sivasspor and provided an assist for the Lion’s first goal.
The Istanbul based club’s manager Hamza Hamzaoğlu revealed that the club has not received an offer that matches their valuation of Telles.
Hamzaoğlu was quoted as saying: “We have not received a bid which matches our valuation for Alex Telles.
“Therefore we have not allowed him to leave. If a bid comes in close to our valuation we will consider selling.”
Chelsea have been on the look-out for a new left-back following Felipe Luis’ return to Atletico Madrid earlier this summer but did recently complete the signing of Baba Rahman.
The London based side confirmed the transfer on their official website but are yet to disclose the financial details of the transfer.
Telles joined Galatasaray on a €6 million transfer from Gremio last January and still has another three-years left on his current deal.
The 22-year-old provided a total of two goals and three assists in 56 games for the Lions last season.