AC Milan owner Silvio Berlusconi claims Andrea Pirlo will end his career at the San Siro, putting an end to speculation linking the midfielder with a move to Chelsea.
Pirlo has been a reported target of the Stamford Bridge club ever since the arrival of former Rossoneri coach Carlo Ancelotti.
However, after a meeting with coach Leonardo and vice-president Adriano Galliani Berlusconi now insists the Italy international is not for sale.
"Andrea Pirlo has been taken off the market,'' he told reporters. "He will stay with us and finish his career at Milan. You know that our Andrea Pirlo was wanted by Chelsea with a suitable economic offer.
"We also talked with the player and we decided to accept Leonardo's request to keep Pirlo.''
The 30-year-old is under contract with Milan until June 2012.
Berlusconi also revealed the club are preparing to splash out on a big-name striker after seemingly failing in their bid to sign Sevilla's Luis Fabiano.
Talks have stalled between the two clubs after Milan had a reported €14m offer turned down by Sevilla, who were said to be holding out for a sum closer to the forward's €26m release clause.
Milan have so far refused to pay that but Berlusconi hinted they could increase their offer.
He added: "I have made the necessary funds available so that Galliani can immediately buy a great goalscorer to put alongside the pack of attackers who are already in the squad.
"You know the name, until this moment we have been working with Galliani on this front.''
The Rossoneri have been relatively quiet in the transfer market despite netting around €65m from the sale of Kaka to Real Madrid