Pescara have released an official note on their website declaring that Marco Verratti has been taken off the market.
The midfielder was believed to be in advanced negotiations with both Juventus and AC Milan, with his agent even suggesting that Manchester City and Paris Saint-Germain are also interested in the player.
However, at a meeting between Pescara's top management and the player and his agent, Verratti has reaffirmed his desire to stay at the club, who will compete in Serie A this season.
"This morning the top management of Pescara met with Marco Verratti and his agent. The player has reiterated his desire to remain with the club," read the note on the club's official website.
"The player, among other things, renewed his contract last year and is tied to the club for another four years. Following the will of the player, Pescara officially announce the withdrawal of the player from the market."
The 19-year-old, who has been dubbed 'the new Andrea Pirlo', made 30 appearances for Pescara in Serie B last season, but failed to score any goals.