Sevilla coach Juande Ramos expressed his delight after the Spanish club fended off last-ditch attempts to sign Brazilian right-back Daniel Alves.
Reports in Spain say Chelsea chief executive Peter Kenyon spent much of Friday attempting to secure a deal for the 24-year-old but that Sevilla club president Jose Maria del Nido was determined to hold on to the player.
Alves, who played in Sevilla's 3-1 Super Cup defeat by AC Milan in Monaco but looked unimpressive, had spoken previously about his desire to move to Chelsea or Real Madrid and a transfer was expected two weeks ago after he was left out of the Champions League qualifier but never materialised.
Ramos, who refused to answer questions about approaches to him by Tottenham, said: 'A lot of teams were interested in him but of course we are pleased he is going to stay.
'I was hoping to see how he was going to respond tonight but it was not easy because he had to deal with Kaka and Seedorf and that limited his attacking runs.'
European champions Milan triumphed thanks to goals from Filippo Inzaghi, Marek Jankulovski - a stunning strike - and Kaka.
Sevilla, still grieving the death of 22-year-old midfielder Antonio Puerta this week, had played the better in the first half and the UEFA Cup holders from Andalucia led at half-time through Renato's header.
Ramos added: 'We we wanted to win to dedicate the cup to Antonio but it was not to be.
'But when the group of boys have made the effort they have made there is nothing to reproach them for, I have nothing but praise for them.
'We did not have time to prepare for the match so of course it was difficult.
'The team is not happy after losing but when you have in front of you such a team as Milan, it is very difficult.'
Milan coach Carlo Ancelotti said his side had wanted to play their part in providing a good match in memory of Puerta.
Ancelotti said: 'It was a very intense game. I think what has happened in the last few days with Puerta's death created a very special atmosphere and Sevilla of course were much more affected.
'I think we were wary in the first half but recovered and did much better later on.
'It was difficult to face up to the situation but we also played for him and did it in the best possible spirit.'
Brazilian striker Ronaldo was not in the Milan squad but Ancelotti said he should be fit for next weekend.