Interesting developments!

We have heard some chatter that Gossip Girl hot boy Chace Crawford is in negotiations to replace Grey's Anatomy hunk Patrick Dempsey as the male face of Versace.

Then, Thursday morning, Versace issued a press release promoting the fact that the Gossip Girl dream boat wore the label to three recent, big name events — Fashion Rocks, MTV VMAs and co-star Blake Lively's 21st birthday bash.

When we reached out to Versace's PR about the whispers we've been hearing, after receiving the press release, they responded, "We have been working hard to develop our relationship with Chace - and that is all we can say on the subject. Patrick Dempsey is contracted with us through Spring/Summer 2009. It is undetermined who will replace him at this time."

OK. What ever you say, Versace people!

What do you think about the possibility of Chace being Versace's new face???

[Image via WENN.]

Read more at: http://perezhilton.com/2008-09-11-versaces-new-face.