The credit crunch has hit Chelsea's hopes of landing Norwich City's promising young keeper Jed Steer, according to reports. The Premier League leaders have been increasingly linked with a move for the 16-year-old.

The credit crunch has hit Chelsea's hopes of landing Norwich City's promising young keeper Jed Steer, according to reports.

The Premier League leaders have been increasingly linked with a move for the 16-year-old. But it seems that even the rumoured reports of a deal worth £250,000, plus add-ons, is now beyond their reach.

A national paper claims billionaire owner Roman Abramovich is tightening the belt - and that includes dropping their interest in Steer. Chelsea have recently cut their scouting staff by 15, with chief executive Peter Kenyon admitting that more players would have to be home-produced.

Norwich manager Glenn Roeder has issued one hands off warning to any clubs interested in Steer, but the harsh facts of football life at Carrow Road are that he has little cash to play with in the January transfer market and is in desperate need of a central defender - which is why he has again been linked to David Edgar.

The 21-year-old Newcastle defender knows Roeder from his time at St James Park - and hasn't played first team football since September.