Gonzalo Higuain will reject a move to the Premier League to stay with Real Madrid, the Metro understands.
Chelsea are reported to have entered the race to sign the striker, who has been a target for London rivals Arsenal since the end of last season.
Manager Jose Mourinho worked with the Argentina international for three years at the Bernabeu, and is said to be keen on being reunited with the 25 year old.
Serie A side Napoli are also keen on signing Higuain, though his agent Enzo Bronzetti believes that is also unlikely, claiming that Real boss Carlo Ancelotti will convince the player to stay in the Spanish capital.
Meanwhile, Manchester United manager David Moyes has reiterated that Wayne Rooney is not for sale amid continued speculation that the England international is set to move on, according to Sky Sports.
The 27 year old is reportedly ‘angry and confused’ at comments made by Moyes that suggest that he is merely a backup to Robin Van Persie.
Elsewhere, Brazilian full-back Wallace is set to be loaned out this season.
The 19 year old was signed by the Blues back in January, before being immediately loaned back to Fluminese before joining up with Jose Mourinho’s side for pre-season training.
Roma are said to be interested in the defender, which could benefit Chelsea in their pursuit of midfielder Daniele de Rossi.