“Talks over Shevchenko are deadlocked at the moment,” AC Milan vice president Adriano Galliani said.

The World Champions were in negotiations with the Blues, over the past few weeks, to get their top marksman once more.

“Milan were interested in taking the player on loan with the right to buy but Chelsea said no because they wanted a full sale, therefore negotiations are over,” added the Milan official.

The Rossoneri have spent $30 million to sign Ronaldinho from Barcelona and cannot afford any more big signings this summer.

Shevchenko, 31, failed to make a good impact in the Premier League since his 30million pounds summer arrival in 2006.