Carlo Ancelotti branded suggestions he was eyeing Benfica left-back Fabio Coentrao as a replacement for Ashley Cole as "totally rubbish".
There have been reports the Barclays Premier League champions would be prepared to sell England's international Cole to Real Madrid, with Portugal counterpart Coentrao drafted in.
But Ancelotti dismissed this out of hand this afternoon, saying: "It's not true, totally rubbish."
Cole has reportedly been unsettled at Stamford Bridge following recent revelations about his private life but Ancelotti has repeatedly insisted he has no intention of selling "the best left-back in the world".
One Benfica player who is on the brink of completing a move to Chelsea is midfielder Ramires.
But the Â£18million transfer appears unlikely to be wrapped up in time for the Brazil star to feature in Sunday's Community Shield against Machester United.
Ancelotti said: "Ramires is, until now, a Benfica player. When he is here, I can speak about him, not now."
He added: "I don't want to speak about Ramires. When Ramires will sign a contract for Chelsea, he will sign.
"This is the same for other players. I read a lot of names in the newspapers.
"Today, we don't want to speak about these players because Sunday, we will have a very important game."