Andre Villas-Boas has confirmed that the arrival of Raul Meireles from Liverpool has ended Chelsea's interest in Tottenham playmaker Luka Modric reports espn.co.uk.
The 25-year-old Croatian midfielder was heavily linked with a London club switch throughout the summer, after the Blues failed with two bids for the player.
Spurs chairman Daniel Levy at no point changed his stance on Modric's availability, backing manager Harry Redknapp to the hilt, after reassuring him that his star man would not be leaving White Hart Lane at any price.
When asked if Chelsea would return to Tottenham with another bid in January, Villas-Boas said:
"No I don't think so. The market is closed and I don't think we'll be back in January. We are pretty happy with what we have.
"We spoke about the need to fill in the space in midfield. Yossi Benayoun could play in the middle or behind the striker but we felt that towards what we want to achieve in playing style, Raul would fit the requirements."
The £12million arrival from Liverpool on deadline day came as somewhat of a surprise to Blues fans, many of whom expected Modric to arrive at Stamford Bridge from Tottenham.
But in the former Reds midfielder, who flourished in the second half of last season at Anfield, under the stewardship of Kenny Dalglish, they have inherited a player with vast potential.
"Let me remind you, Raul was elected as fans' player of the year at Liverpool," Villas-Boas continued. "It's an extremely good deal for Chelsea. We are pleased he is here."