The 27-year-old was expected to join the Ligue 1 champions this summer, with some reports even declaring it a done deal.
But PSG’s current financial situation as a result of the Coronavirus pandemic has reduced their budget.
PSG now have a €70m transfer budget, considerably less than they had originally thought.
And according to Record, the Parisians have made a new right winger their top priority.
The latest report, from RMC Sport in France, is that Kurzawa now has an agreement in principle to renew his contract.
The Portuguese giants want to sell some players this summer to balance the books.
And with Telles being valued in the €25m region, they are likely to invite more bids for him.