A product of the Independiente academy, the youngster has been earning rave reviews from scouts and several clubs have been keeping close tabs on him.
Efforts have already been put in place to take Velasco to Europe as soon as possible and several clubs are in touch with the Argentine club and the player’s representatives.
He has at least two suitors in the Premier League, with Newcastle and Brighton competitors for his signature.
But the Seagulls have moved in a more concrete way for him and, according to Italian outlet Calciomercato.it, they have put in an offer for him.
It has been claimed that Brighton have tabled a bid worth around €10.3m for the young winger and are keen to take him to England.
Brighton are in direct talks with Independiente and are hopeful they can see off the competition for Velasco.
But no deal is done and Newcastle still remain interested in the winger.
Clubs in France and Mexico are also claimed to be keen on the 18-year-old Argentine.