The Colombian had been heavily linked with a Premier League move to the Blues but his agent has revealed that the Serie A side have yet to receive a bid for the midfielderFredy Guarin is likely to stay at Inter Milan after his representative Marcelo Ferreyra revealed the Serie A club have not received a bid from Chelsea.
Ferreyra has previously stated that representatives of both clubs had held talks in London but made it clear the two clubs had to agree a fee.
And this has proved to be the stumbling block - pleasing Inter director Piero Ausilio - leaving Guarin looking likely to remain at Inter for this season.
Ferreyra told FcInternews: "It's false. We have never got offers from Chelsea. We are happy at Inter, even if we don't know what [club president] Erick Thohir's intentions are.
"It's time that Thohir, [coach Walter] Mazzarri and Inter's leadership decide what to do with Fredy.
"They must let us know if they want to count on him and, if so, we must discuss the new contract of which we already spoke about last June, but that has not arrived yet because of the club's sale.
"It's a heartbreaking thing not knowing what Thohir wants, because he never talked to us. If Inter really needed to sell Guarin so they could get reinforcements, it would be very sad for the fans because it would not be an ambitious project.
"However, we want to know what the president thinks about my client, because if he considers him the best player of the team he must be valued like this."