AC Milan coach Carlo Ancelotti has ruled himself out of the running for the Chelsea manager's job.
The 48-year-old Italian was believed to be the personal choice of owner Roman Abramovich to replace the sacked Avram Grant in the Stamford Bridge hot-seat.
But despite being preferred to the likes of Luiz Felipe Scolari, Roberto Mancini, Frank Rijkaard and Roberto Mancini, Ancelotti has pledged his future to the Italian side.
He remains under contract at the San Siro until 2010 and appears safe in his job despite Milan failing to qualify for next season's Champions League.
"I'm staying at AC Milan for sure and for many seasons to come," he revealed.
"I've not spoken to anyone at Chelsea. Any other reports are football talk and pure speculation."
Milan vice-president Adriano Galliani added: "It is out of the question that Carlo Ancelotti goes to Chelsea."
Meanwhile, Chelsea have distanced themselves from reports that they had made Ancelotti their sole target and held a series of meetings with the former Parma and Juventus coach.
"Contrary to reports, Chelsea Football Club has not reached agreement with any individual to become manager, nor have we sought permission from any organisation to talk to their manager," read a club statement.
"We are extremely happy how our search is progressing."