Chelsea have had offer in excess of €20 million for Germany winger Andre Schurrle rejected by Bayer Leverkusen.
The Blues first showed interest in Schurrle last season but renewed their pursuit after a bid to sign Wigan Athletic's Victor Moses hit the skids last month.
Chelsea manager Roberto Di Matteo is keen to bolster the attacking options of his side and Schurrle, who played in Germany's 4-2 win over Greece at Euro 2012, is able to play out wide or up front.
However, the Werkself have decided to keep hold of their 21-year-old attacker, rather than cash in on a young player who scored nine goals last term.
"We were presented with a very concrete offer from Chelsea for Andre of beyond the €20 million mark. The sum was pushed back and forth between the two clubs, but we eventually opted to hold on to Andre," Bayer Leverkusen CEO Wolfgang Holzhauser is quoted as saying by German news agency SID.
"Andre is very valuable for us on the pitch. He has also made it very clear that he is happy to stay with us."
Chelsea have already bolstered their attacking options with the capture of Eden Hazard and Marko Marin, but the bid for Schurrle shows they still have money to strengthen.