West Ham United were credited with an interest in the Argentine last month.
According to a report from Spanish media outlet AS, Boca Juniors star Cristian Pavon has a new €42.5 million (£37.5 million) buy-out clause inserted into his contract with the Argentinian club, surely making a move to West Ham now extremely unlikely.
Having already spent big on a plethora of new signings, however, it is hard to envisage a scenario where West Ham would be able to meet Pavon's reported new buy-out clause.
Whilst the Argentina international would certainly add both depth and quality to the Hammers' squad, it could be argued that he would now be an unnecessary signing, following Andriy Yarmolenko's arrival at the London Stadium.
Pellegrini is undoubtedly determined to usher in a new era of success at West Ham, but he needs to be patient and realistic with his signings.
Pavon is an exciting talent, but £37.5 million is a lot of money for a totally unproven commodity in the Premier League.
The Hammers will be best served in avoiding the Argentine.